Haha, it's a reference to the 2006 White House press correspondents dinner that Colbert hosted, and absolutely destroyed Bush at. It's on YouTube, and it's a great watch.
Colbert was hilarious when he played a blowhard obnoxious conservative. Now that plays a blowhard obnoxious liberal it's not nearly as funny, like he's not putting the same effort into this persona.
>absolutely destroyed Bush at
Weird. I thought Bush finished out his term.
Indeed, I was referring to his level of composure over the course of the evening.