So Stephen Colbert has a Superpac what does that mean?

The "PAC" part of Super PAC stands for Political Action Committee, which is a group that donates funds to political candidates, but is forced to adhere to strict limits. Super PACs (officially called "independent expenditure-only committees") aren't bound by most of these rules (though they can't work directly with a candidate or party), and can make unlimited contributions. What exactly Steven Colbert plans to do is still unclear, even to him (at least as he's publicly stated: Give me money and find out.)
Updated on Saturday, July 30 2011 at 04:40PM EDT