Probably would not be noticeably bad. Colbert certainly is attracting a massive amount of attention after declaring his desire to run as a candidate in South Carolina. Whereas Barrack Obama’s facebook group was haled as a success after gathering 384k+ members, Colbert’s group skyrocketed to over a million in just one week. So does he actually have a shot at the presidency if he decided to kick it up a notch and run in all 50? That certainly seems to be the case with younger voters at this point, but would it hold out at the actual election? On Wonkosphere, he’s got a buzz percentage of about 4%, roughly one-third of the buzz for the candidates the media is telling you to vote for (Hillary and Giuliani).
Better yet, he should run in 48 states, singling out 2 as “handicap” states to give the other candidates a fighting chance. I’m sure he could find a pair funnier than Alaska and Rhode Island, but that’s a start.
Also, for a good read about why the democratic leadership isn’t worth two farts in the wind, you should check out today’s article on Dissident Voice.