Stephen Colbert really is running for president.

The faux conservative pundit is expected to officially file paperwork today to enter the Democratic primary in his home state of South Carolina, CNN reports.

The 43-year-old Colbert announced his bid October 16 on The Colbert Report, saying he would run as both a Democrat and Republican so "I can lose twice."

It looks like pure cost might have altered that plan. The fee to get on the GOP ballot is $35,000, whereas Colbert only has to cough up a modest $2,500 â€" or get 3,000 signatures â€" to get on the Democrat ballot in the Palmetto State.

Stephen Colbert: A political contender or pretender?

So when should Barack Obama start worrying? Probably not soon. The Democratic officials in South Carolina will meet Thursday to decide if the comedian is "viable" and has spent enough time campaigning before putting him on the ballot.

"He does not appear to be campaigning to win if he is only running in one state," said Carol Khare Fowler, chairwoman of the South Carolina Democratic Party.

Another council member, Charleston Democratic Party Chairman Waring Howe, was more blunt: "Over my dead body will Stephen Colbert be on the ballot."

Still, Stephen Colbert made two "campaign" stops in South Carolina last weekend, speaking at a "Rock the Vote" event on Saturday in Charleston and appearing Sunday in Columbia to receive a key to the city from Mayor Bob Coble.

That event attracted over 1,000 people, most of them University of South Carolina students. Better keep an eye in the rear view mirror, Hillary Clinton!