Air America declares bankruptcy. It’s a fitting end, considering those affiliated with the failed venture were morally and intellectually bankrupt to begin with.

But don’t worry, liberals, there’s always spin.

The right wing is sure to seize on Air America’s financial woes as a sign that progressive talk radio is unpopular.

So are you suggesting that the bankrupcty proves its popularity?

In fact, Air America succeeded at creating something that didn’t exist: the progressive talk radio format.

Oh, but it did exist. It’s called CBS, NBC, ABC, CNN…

Of course, they were saying the same thing when it launched.

Walsh said the goal was to provide a liberal voice that has been missing on the airwaves and to present it in such as way as “to make you laugh. You will giggle when you listen although we will be tackling serious subjects.”

Wow, it works. I’m laughing right this very minute.

“We’re not regime change radio,” Walsh said. “We do want to make a buck. We expect to go profitable in year three.”

Looks like another failed prediction. Or were the planned profits to come from the shady business deals?

“The fact is that we’re not seeing media buyers say ’screw you, we buy Rush.’ There’s an openness in media buyers.”

I guess now they’re saying ’screw you’.

“I think what you’ll see in a short time, is that we will close deals with traditional consumer goods companies,” said Walsh. “Liberals buy beer, they drive trucks, they take vacations, they have arthritis. We’re also consumers.”

They also kill babies, raise taxes, hate the military, side with terrorists. But that doesn’t really help their failed venture either.

Stay tuned. Coming up next, the O’Bankruptcy Factor.

Update: Welcome Dailykos readers. I like how the DK post is written by someone looking for the appropriate talking points to use in reaction to the Air America bankruptcy. I guess thinking for one’s self is too much to ask. But hey, I’m glad to see the warden is allowing you to surf the web today.