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I believe AC/DC coined it best when they asked who had the biggest balls. They were apparently quite prophetic in their 1981 release, because the song is an obvious past reference to the future genius that is Colbert.
Perhaps even bigger balls rest upon those responsible for booking Colbert in the first place, but like one letter mentioned, it's most likely the Bushies showing just how self-effacing they are. This may be true, except for the squint-lipped Bush sitting mere feet from the podium looking like he was handed a big steaming pile of truthiness.
I wonder if Bill Maher's jealous.