Late-night comedy!

From About.com:

JAY LENO

I tell you, the economy is in bad shape. In fact, the economy is so bad, President Barack Obama's new slogan is 'Spare Change You Can Believe In.'

I think Barack Obama is a genius. I think this is part of the plan. Do you ever notice when Barack Obama nominates someone, the first thing they do is pay their taxes? He's found a way to pay off the deficit. Nominate every single person in the country one at a time, until they pay off the deficit.

And you know that woman here in California who just had the eight kids and has six more at home?' Well, today, Tom Daschle proposed to her. He's not in love, he just needs the deductions. 'Please marry me, please!'

The U.S. Post Office announced they could run out of cash by the end of the year. They said they're in serious danger of becoming a bank. That's how bad it is.

And it was on this very day in 1690 that the very first paper money in America was issued in Massachusetts. It was issued by a man named Merrill Lynch, who used the money to give himself the first huge bonus.

And former Maryland Lieutenant Governor Michael Steele has become the first African-American Republican National Committee chairman ever. Black Republicans said they were thrilled. Both of them.

Today, the heads of the eight largest banks testified before Congress. Bank C.E.O.'s in a room full of politicians -- they had to flip a coin to see who's going to tell the first lie.

Last night, Barack Obama held his first press conference as President of the United States, and it was fascinating because his press conferences are very different than the George Bush press conferences in many ways. There were verbs. There were syllables. There were complete sentences..

Down in Louisiana, a porn star named Stormy Daniels announced that before she commits to running for U.S. Senate, she will go on a statewide listening tour. Daniels added, and I'm quoting here, that she may 'be a slut and a whore, but' she is 'not a criminal.' But this is why she will never win. See, in the Senate, you have to be all three.

DAVID LETTERMAN

Last night, right here on CBS, they aired the annual Grammy Awards, and no surprise here, the Grammy for Best Duo went to Aretha Franklin and her hat.

Man, here's something chilling. Former Vice President Dick Cheney is now warning that there will be another terrorist attack. He got that information by waterboarding himself.

I don't want to just ruin everybody's day, but there is discouraging news everywhere. Unemployment is high. Foreclosure rate is high. Michael Phelps is high.

Either today or yesterday, Barack Obama said Americans are 'sick and tired' of people 'being rewarded for failure.' Is he talking about me?

I'm sorry you folks weren't here last night, because you missed a big show. Former Illinois Gov. Rod Blagojevich was here. You know, it's funny. The audience really liked him, but they impeached me.

But it was fun to have Rod Blagojevich on the program, because for one night, I was not the creepiest guy on the show.

Ladies and gentlemen, while you were applauding that joke, another Obama nominee dropped out.

I hate to be critical this early into the new administration, but I don't know if this Timothy Geithner is the guy for the job. He may not be up to it. Turns out, he thought the Treasury Secretary was in charge of buried treasure.

Former Senator Tom Daschle from South Dakota had to withdraw because he forgot to pay taxes. You know, I believe the guy because in South Dakota, there are so many distractions.

How about this? A celebrity birthday. Today is Alaska Gov. Sarah Palin's birthday. I'm not saying how old is, but from her house, she can see 50.

Obama said he still believes in bipartisanship and he pledges to work with the Republicans to reduce the size of Jessica Simpson, who has reportedly put on some weight.

CONAN O'BRIEN

President Obama has asked the Senate to cut $50 billion from the economic stimulus plan. Yeah, Obama says the government will no longer need the $50 billion once everyone in his Cabinet pays their back taxes.

The producers of this year's Academy Awards are worried about the ratings, so they are making several changes to the show to try to increase viewership. For instance, this year's broadcast will be called 'American Idol Presents the Oscars, Hosted by Barack Obama.'