Watch “Emperor” Obama Take Over Hosting Duties for Colbert

“You’ve taken plenty of shots at my job. I’m going to take a shot at yours.”

And with that, President Obama seized control of a special D.C. edition of “The Colbert Report” last night, leading off by taking over hosting duties for the latest installment of “The Word,” or as the president promptly renamed, “The Decree.”

Later on, the two sat down and discussed everything from the midterm elections to the nuclear launch codes. Regarding immigration reform, Colbert asked his guest, “You realize you’re an emperor now…Why did you burn the Constitution and become an emperor?”

Colbert, who will be replacing David Letterman over at the “Late Show” soon, concluded the special appearance with a suggestion that melded both immigration legislation and Keystone into one bizarre policy proposal. The president declined: “Stephen, that sounds like a ridiculous idea. But that’s why you’re where you are, and I’m where I am.”

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We didn't know what to expect when we told you we needed to raise $400,000 before our fiscal year closed on June 30, and we're thrilled to report that our incredible community of readers contributed some $415,000 to help us keep charging as hard as we can during this crazy year.

You just sent an incredible message: that quality journalism doesn't have to answer to advertisers, billionaires, or hedge funds; that newsrooms can eke out an existence thanks primarily to the generosity of its readers. That's so powerful. Especially during what's been called a "media extinction event" when those looking to make a profit from the news pull back, the Mother Jones community steps in.

The months and years ahead won't be easy. Far from it. But there's no one we'd rather face the big challenges with than you, our committed and passionate readers, and our team of fearless reporters who show up every day.

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