To plagarize myself...

"T" iz fer th' "T" that's not in "moron"
"W" shore ain't for th' president
Two "E"s iz fer th' two missin' from "dingbat"
"D" iz fer th' "D" not in "miscreant".

Put 'em all together an' they spell "Tweed"
A feller knowed an' famous fer his wit
But everbuddy knows thet when ya spell "Tweed"
It's jus' annuther way t' spell "bullshit".