Colin Powell endorses Barack Obama

In the world of political endorsements, this is a big one: Former Secretary of State Colin Powell endorsed Barack Obama on Thursday morning:

"You know, I voted for him in 2008 and I plan to stick with him in 2012, and I'll be voting for he and Vice President Joe Biden next month," he said on CBS' "This Morning."

Asked whether it was an endorsement, he said, "Yes."

Powell praised the president's handling of the economy and ending of the Iraq War.

"I think we ought to keep on the track we are on," he said.

Powell said he had the "utmost respect" for Mitt Romney but criticized his tax plan.

He said Romney's foreign policy was a "moving target."

And you know that this endorsement, and Powell's assessment of Mitt Romney, has Republicans gnashing their teeth this morning.

Good times.