I seriously doubt that Stewart would sully his (ahem) journalistic credentials by actually backing one of the candidates. In fact, he is usually hardest upon the people he agrees with most.
But Jon Stewart seems to have invented an entirely new way of speaking about politics that is frank, down-to-earth, savvy, and - while taking an above-it-all posture - decidedly liberal. He makes progressive values seem like common sense, simply by speaking directly, rather than politico- or journalistic garble.
For the internet generation of politics, Stewart remains a hero for being one of the voices in the wilderness that had the courage to oppose the dumb war when it was considered "weakness."
Moreover, there are many of us who will always treasure the day he took on Tucker Carlson and Clintonista Begala on Crossfire for regurgitating partisan talking points instead of having the debate that the torn and confused nation so badly needed to hear.
I thought it would be many years before politicians learned to speak with the candor and directness that Jon Stewart brought to the political arena.
I was wrong. Not only does Obama speak in a way that seems remarkably like the way my friends and I speak to each other, he also has the courage to take on positions and speak about them directly to people that don't want to hear it most. My favorite example is his discussion of environmental reform and mileage standards to unsympathetic union workers and industry leaders, but there are countless others.
While Jon Stewart may not be backing anyone just yet, his way of making politics meaningful paved the way for Obama's approach.
Stewarts audience also reflects something of a generational divide - if not always in age brackets, then at least in mindset - and I think this growing constituency represents much of Obama's early support.