Stephen Colbert's super PAC, Americans for a Better Tomorrow, Tomorrow, is sitting on a large, intimidating pile of money, but doesn't seem to be spending any of it. In its federal filing for the month of March, the super PAC reported raising only $44,000, and spending $28,000. The most interesting part of the Colbert PAC isn't how much money is coming or going, though. It's how much is sitting in their bank account, not moving at all. Americans for a Better Tomorrow, Tomorrow reported having $794,400 cash-on-hand at the end of March, which makes them richer than most other super PACs.
In contrast, Politico compares the late night host's PAC to Take Endorse Liberty, a PAC supporting Ron Paul, that drew a $1.7 million donation from Facebook investor Peter Thiel in January. They reported raising even less in March, only $13,100, and having less than $54,000 on hand.
The Colbert PAC's coffers measure up well with some of the bigger super PAC guns. The Campaign for Primary Accountability, a "shadowy" super PAC focusing on incumbents in tight races, raised more than $645,000 in March and spent nearly $800,000, but they only had $437,807 on-hand at the end of the month.
Where they can't compete, as Politico does mention, is on the same level as, say, the more elite super PACs supporting Romney or Obama. A pro-Obama super PAC, Priorities USA Action, has $5 million cash-on-hand. The Romney campaign and its supporting super PAC, Restore Our Future have $16.5 million.
While a PAC like CPA is supporting Congressional and Senate campaigns, the Colbert super PAC will likely focus it's efforts solely on the campaign for President. After the two major conventions are done and it officially becomes a two horse race, the super PAC's spending will likely pick up. Things are just starting to gear up on the road to November, and with all of that money to play with it seems like they're biding their time more than anything, with hopes of grander mischief on the horizon.
This article is from the archive of our partner The Wire.