That's what one of the Balloon Juice gang has a post about. Perhaps one of the best examples of that is professor Glenn Beck's tutorial where he ties George Soros, Elana Kagan, the mosque in New York, Bill Ayres, and many other people together. (11 minutes of insanity)
Kudos to Fox News for all the work they do "informing" the public.
It is difficult to judge performance art (more difficult than traditional art) not only because of its nature but also because the performces are usually very different from each other.
At this time, however, we have two practicitioners or the craft who are working along similar lines, Glen Beck and Stephen Colbert. I have to lean towards Beck as the better artist. I have only seen him fall out of character a few times. Colbert drops out more often. To be fair to Colbert; they both have a difficult time staying in character when they are interacting with other people. Colbert has more guests on his show and, therefore, takes more risks in this regard.