I’ve seen a few bits and pieces on this, but I turn, as usual, to Kung Fu Monkey for the real smackdown:

It’s as if aliens tried to decipher humor from radiated cable television waves and then constructed a “comedy” show with a poor translation algorithm. It is un-joke. You could put it in a chamber with a knock-knock joke and use the resultant explosion to power a starship.

I didn’t watch it live, but the clips on YouTube certainly didn’t bring the funny.  John looks at why:

For topical runs, you start with “okay, what happened today,” and you look at everything. Everything. This is because comedy has maybe a 10% success rate on the pitch, and that’s just for joke-like objects, never mind actual functioning funny jokes. To fill a show with a couple dozen funny jokes, you don’t have the time or luxury to stick to talking points. You need to find the funny. Unless you’re not worrying about funny — in which case, you get the 1/2 Hour News Hour.
…
Comedy is truth, truth is reality, and if “Reality has a well-known liberal bias” for now, anyway, you just have to suck that up if your job is the funny. One party has boring, earnest junior Senators with competing health plans running for President. The other party has the guy in charge of fighting child pornography online soliciting minors online, a Senator who talked about “man on dog” action, a State Representative who doesn’t believe the Earth revolves around the Sun, and a Vice-President who won on an anti-gay platform with a gay daughter who’s pregnant with another woman’s child, which may be why he shot a dude in the face. Nobody’s fault Fate dealt one player the “goofy” cards for the last few hands.