updated 11/29/2010 2:55:23 PM ET 2010-11-29T19:55:23

Guests: Jim Moran, Joe Sestak, Roy Sekoff, Stephanie Miller, Bill Press,

Mike Papantonio, Lizz Winstead

ED SCHULTZ, MSNBC ANCHOR:  Good evening, Americans, and welcome to THE ED SHOW tonight from Minneapolis.

These stories are hitting “My Hot Buttons” at this hour.

We‘ll put this on the turkey table.  Big business and their buddies of the Republican Party basically have turned their backs on the middle class.  The new economic forecast says unemployment numbers, folks, they‘re here to stay and it‘s going to get brutal. 

It‘s time for the Democrats to step up and own this issue, once and for all, and do something about it.  My commentary on that in just a moment. 

President Obama says he doesn‘t think about Sarah Palin.  And she‘s cheerleading—get this—cheerleading a communist country? 

We need clarification, Sarah. 

And 45 percent of Democrats say they want President Obama to face a primary challenge in 2012.  We‘ll get “Rapid Fire Response” from two of the nation‘s top progressive talkers at the bottom of the hour. 

And we have got breaking news right off of the top.  A jury in Texas convicts ex-House majority leader Tom DeLay in a money laundering trial. 

How many liberals have been waiting for that news?  Of course, Tom DeLay, he didn‘t do anything wrong, did he?  Convicted.  We‘ll talk more about it later on in the show. 

But this is the story that has me fired up tonight. 

The numbers don‘t lie.  Corporate America has a rope around the neck of the middle class in this country, and they‘re tightening the noose on really any fast hope of economic recovery.  The numbers are going to be pretty much the same for a while. 

The Federal Reserve is projecting high unemployment through 2011 and up to the next election.  So this is what we have to look forward to.  This is on the heels, my friends, of corporate America having its best quarter ever. 

The Fed predicts nine percent unemployment at the end of next year, and about eight percent in late 2012.  I think that‘s lofty myself. 

Now, the Republican Party, of course, will use these numbers to make President Obama a one-term president.  That, of course, is the mission. 

In the meantime, the corporate sector, well, their profits shot up a record 28 percent in the third quarter.  At the same time, they only spent 7.6 percent more on employee compensation. 

Well, that means that big business is really sitting on the record profits instead of really investing in American work.  Where is that investment going? 

Here‘s what the headline ought to read: Corporate Suits are Cutting a Fat Hog on Emerging Markets,” and those markets are overseas.  “The Washington Post” reports one of the reasons for the record third quarter profits from U.S. firms is because they are doing business overseas, and those numbers have shot up. 

Now, it‘s completely un-American, in my opinion, for U.S.-based companies to turn their back on American workers, American wage earners, while they‘re doing things on the cheap overseas.  Where‘s the economic patriotism in all of this? 

Boehner and McConnell, they don‘t give a damn.  They‘re aiding and abetting the outsourcing of American jobs.  They stand honestly silent, don‘t they? 

At the same time, they stand in the way of helping the 15 million Americans who are out of work because we‘re only going to go so far in these extraordinary times when it comes to unemployment benefits.  Democrats have a small window of opportunity to save people from losing all of their unemployment benefits when they get back to Washington next week. 

Now, who‘s side do you stand on?  If they don‘t pass an extension by next Tuesday, 800,000 Americans will instantly get cut off.  And it‘s going to get worse. 

And if they don‘t do it in December, 1.2 million people will be left out in the cold.  More numbers, more in the line, more hardship. 

Well, Pennsylvania Senator Cob Casey and 27 other Democratic senators sent a letter to Harry Reid demanding immediate action on the issue.  But Senate Republicans, they‘re more worried about earmarks—you know, the big fight—the big talk about earmarks last week.  Mitch McConnell and Senate Republicans, they swore off earmarks early last week.

But wait a minute.  The number two senator on the Republicans side, what did he do?  Well, he snuck some home state pork into a bill right before he skipped out of town. 

Yes, we‘re talking about Arizona Senator Jon Kyl.  You see, he landed $200 million to settle an Arizona Indian tribes water rights claim against the government. 

It‘s a low-rent move, Senator.  And you vote no time and time again about unemployment benefits? 

This ought to make America‘s blood boil.  The Republicans will do anything to help their buddies in their back yard and help the folks on Wall Street.  And, of course, do all of the home state projects, the pet projects that we hear so much about, but they basically are spitting on the unemployed every chance they get because they just cost too much money. 

The bottom line is the Republicans, this Thanksgiving—and we‘ll sit at the table tomorrow and will probably give thanks, say a prayer.  What are we going to be thankful for? 

Are we going to be thankful for the Republicans who have repeatedly voted against and blocked small business bills to employ people in this country?  Are we going to celebrate the investment in foreign workers?  Should we be thankful for that? 

Should we be thankful that at every turn and every time this president tries to do something right in national security, that the Republicans are there, Monday morning quarterbacking, just ripping into President Obama, instead of being a team player to help protect the country?  That‘s all on his shoulders.  Of course, now, he‘s a Democrat. 

You know, this is the same Congress that time and time again, has never really shown any confidence in the American worker.  They were against the auto loan.  It‘s not a bailout, but they‘ve convinced Americans that it was a bailout, some kind of freebie. 

Where have you seen reported that the United States government is going to be making money on this loan since we saved the American automobile industry?  Just think if we hadn‘t done that.  Just think about how many car dealerships in this country would have just fallen by the wayside and there would had been a ripple effect through the economy. 

Now, that‘s something that we can be thankful for, but we can‘t be thankful for the Republicans, because they hated every inch of it.  They hated it.  They didn‘t want anything to do with it. 

It was “Government Motors.”  It was “Obama Motors.”  We can‘t do that. 

Should we point out at the dinner table that it‘s been the liberals all along in this country that have stood up for American workers, that have presented bills to the Congress to fight back outsourcing, that have presented bills in Congress that would actually give incentives to American companies to bring jobs back to America?  Who‘s been in the way?  The Republicans. 

We have a lot as a country to be thankful for, but I don‘t think we can be thankful for the attitude of the Republicans, the way they want to show us in this country.  I don‘t think we can be thankful for their obstinence when it comes to trying to get things moving forward in America. 

Instead of debating their side, all they want to do is tear down everything that the American people want.  It‘s almost as if we didn‘t have an election in 2008. 

So this is, I think, as we move forward after Thanksgiving, a real gut-check time for the Democrats.  The Democrats still have a lot of power, although if you watch a lot of shows these days, you would think that they didn‘t have any power at all. 

The Democrats, what they need is the heart and the soul and the belief that what they believe in is the right thing for America.  They can‘t have a shaky stomach right now. 

They have to get that heart and that soul and know in their heart that they are willing to do things for Americans and not give up. 

I‘ll be thankful tomorrow at the dinner table for one party and one movement that has consistently stood up for the American worker, that has consistently called out the Republicans when they were wrong working against the American worker.  We have a lot to be thankful for. 

In my house, it‘s the liberals.  And I‘m damn proud of that. 

Get your cell phones out, folks.  I want to know what you think. 

Tonight‘s text survey question is: Do you think long-term unemployment will make President Obama a one-term president?  Text “A” for yes, text “B” for no to 622639.  I‘ll bring you the results later on in the show. 

Joining me now is Virginia Congressman Jim Moran. 

Congressman, good to have you with us tonight.  And I‘m thankful for you, because you speak up, you say things for the American worker.  And we have a lack of that in Washington, and that‘s part of the divide.  We actually have people who actually think shipping jobs overseas is a much better policy for America. 

Congressman, the forecast that I put out there that the Fed is reporting and what we‘re going to look at for unemployment in 2011, 2012, what‘s your reaction to those numbers, sir? 

REP. JIM MORAN (D), VIRGINIA:  You have every reason to be fired up, Ed. 

You know, today‘s headlines are just stunning.  The highest corporate profit in recorded history. 

Now, of course the people who own those corporations, benefit the most from that corporate profit, are those largely in the top one percent.  They now have more wealth than the bottom 90 percent of Americans. 

And when you look at the fact that corporate profit went up almost four times as fast as wages, you realize what‘s happening.  American workers‘ productivity is soaring, but their wages are not.  In fact, to some extent, they‘ve been declining. 

And when they‘re not making enough money so that they can‘t meet their mortgage, they can‘t make their car payments, they can‘t even put enough food on the table these days, that‘s what‘s stunning.  That‘s what causes you to be fired up.

You know, it was Franklin Roosevelt who recognized that the stability of our political system comes from the expansion of the middle class, but the strength of our economy comes from the working class.  And it‘s the working class that‘s paying the price for this disparity of wealth and income in America, that‘s as bad as it has been since the Great Depression.  That‘s the problem in our economy.

Now, those one percent, I mean, I want them to have a nice Thanksgiving.  They‘ve certainly got a lot to be thankful for.

Now, many of them are probably vacationing overseas, but the reality is if they don‘t understand that until we put America‘s working class to work, and pay them reasonably for their increased productivity, then this whole economy is going to drag everyone down.  And so what you‘re fired up about is simply—

SCHULTZ:  Do you think, Congressman—yes.

MORAN:  -- wanting American to be as strong as it should be.

Go ahead, Ed.  Excuse me.

SCHULTZ:  No, that‘s what we all should be focusing on.  I don‘t think that this country is focused on jobs.  I don‘t. 

I know the Republicans aren‘t.  All that they want to do is complain about it. 

How can they sit there, Congressman, and say that they‘re for creating jobs, but they fight President Obama, they fight the Democrats in Congress tooth and nail every time a proposal comes on the table?  How in the hell are we supposed to be thankful for that? 

MORAN:  If you want to create jobs, you put money in the pockets of the American consumer so they can start buying more, they can feel more financially secure, they can send their kids to a good college education.  The other thing you do, in addition to putting money in the pockets of consumers, is you invest in our human infrastructure.  You put money into education, which is the foundation of a productive workforce.

But they want to cut education, and then they are most focused on giving tax cuts to the people who need it the least, to that top one percent who already have 90 percent of America‘s wealth.  So the—

SCHULTZ:  The income disparity in this country is unbelievable.  It‘s the worst since the Great Depression.  And—

MORAN:  Well, it‘s un-American now.  It‘s not what America‘s about. 

SCHULTZ:  No, it‘s not. 

MORAN:  It‘s eroding our strength. 

SCHULTZ:  Yes. 

MORAN:  I don‘t know how we compete when --  

SCHULTZ:  Congressman—

MORAN:  Yes, go ahead.  Excuse me.  You‘re getting me all fired up, too. 

SCHULTZ:  Well, I want to get you fired up.  You know, I don‘t know how else we‘re going to get anything accomplished in this country unless we make people realize what the heck is going on. 

Congressman, great to have you with us tonight.  Happy Thanksgiving. 

And thanks for always showing up here on THE ED SHOW.  I appreciate it. 

MORAN:  And I‘ll tell you—you know, Ed, I was just reading your book, “Killer Politics.”  It says it all. 

This is what people ought to be reading.  You know, finish your turkey meal.  You‘re going to want to sit back for a while.  Buy this book, read it, and then you‘ll get it and you‘ll realize what needs to be done in America, where we need to go and what are—where our priorities ought to be. 

Have a great Thanksgiving, Ed.  You deserve it. 

SCHULTZ:  Thank you, Congressman.  I appreciate it. 

I didn‘t know you were going to show up the book, but I thank you for reading it.  I appreciate it very much.  I think I do hit it out of the park on the key issues to save this country. 

Coming up, now matter how hard all of us try, we just can‘t get away from “Caribou Barbie‘s media onslaught.  President Obama says he really doesn‘t care what she‘s doing, but I‘ll show you what he said about her and get reaction from Roy Sekoff. 

Mike Huckabee and “The Drugster” are absolutely disgusting.  They want, you see, the entire Obama family, including the girls, to get the TSA pat-down.  What good‘s that going to do?  It‘s just more divide, right? 

Plus, ex-House majority leader Tom DeLay could be facing life in prison?  He was just convicted for money laundering.  That‘s a hard thing to say. 

Tom DeLay, I thought he was such a good guy, you righties. 

And “Daily Show” co-creator Lizz Winstead headlines a special Thanksgiving edition of “Club Ed.” 

Stay with us.  You‘re watching THE ED SHOW on MSNBC.

(COMMERCIAL BREAK)

(BEGIN VIDEO CLIP)

BARACK OBAMA, PRESIDENT OF THE UNITED STATES:  South Korea is our ally.  It has been since the Korean War.  And we strongly affirm our commitment to defend South Korea as part of that alliance. 

BARBARA WALTERS, ABC:  Will we perhaps send warships, or would you put U.S. troops on alert? 

OBAMA:  Well, you know, I‘m not going to speculate on military actions that the point. 

(END VIDEO CLIP)

SCHULTZ:  President Obama responding to the deadly attacks by North Korea this week.  Four people, including two civilians, are dead after the communist country shelled a South Korean island, catching everyone completely off guard yesterday.  Just what we need, another war. 

President Obama is furious, and he stands with South Korea.  A U.S.  aircraft carrier group is on its way to the region, and the Navy is planning to show a real sign of force with Korean allies this weekend. 

What‘s happening here?  Aren‘t we stretched so thin that our resources

that we‘ve spent all of this time, money and effort in Iraq and Afghanistan

and aren‘t we curious as a country to know, where in the heck is this going to go, and do we have the resources to reel in North Korea without using the big stuff? 

For more, let‘s bring in Congressman Joe Sestak, a member of the House Armed Services Committee.  He‘s a retired three-star admiral and the highest-ranking military officer ever to serve in Congress. 

Joe, where are we on this?  How severe is this? 

Let me show you this first.  This is a comment from the Korean news service.  They‘re saying that, “There is neither way to improve relations, nor hope to bring them on track.  The confrontation between the North and the South in the political and military fields has been put to such extremes that the inter-Korean relations have reached the brink of war.”

Admiral, where are we? 

REP. JOE SESTAK (D), PENNSYLVANIA:  You know, since 1950, we have had a score of incidents that have occurred with North Korea, the hermit kingdom of which we know so little.  This is always a cause for concern, that something that seems relatively small can always get out of control.  But if there‘s anything we need to be doing right now, it‘s to ensure that we‘re working with China, the one nation that seems to have influence over what‘s known, as I mentioned, the hermit kingdom, North Korea, to ensure that this does not escalate. 

I honestly believe that the George Washington aircraft carrier battle group, of which I once had command of, is deploying there as much—and its home-based in Japan, so it‘s not far away—it‘s going into those waters off Korea as much as to make sure that South Korea, while it knows that we‘re on its side, also doesn‘t overreact, because this is how, unfortunately, wars can begin.  World War I did it, and we can‘t permit that to happen. 

So diplomacy is what‘s most important right now. 

SCHULTZ:  Congressman—Admiral—Congressman, are you concerned that South Korea might do something spontaneously to respond? 

SESTAK:  I think—we have had their president actually say that—words to the effect that once—if this occurs again, he might have to strike their bases.  Now—and this is how things can happen.

Look, this is being managed as best as it can.  And this is where we shouldn‘t be doing anything except not overreacting, and apply the most important diplomatic efforts we can on China just to make sure that North Korea doesn‘t overreact and we make sure South Korea doesn‘t as we work with China to bring about a peaceful resolution of making sure North Korea comes back to the table and stop its pursuit of an increased nuclear capability, and hopefully do away with the 12 or so nuclear devices they have. 

Second, Ed, as you probably well know, the problem with Iraq was that it tore our national security fabric.  We don‘t have an army right now that can respond to the war plan for South Korea and meet its timeline. 

When I asked that question of the chairman of the Joints Chiefs of Staff when I got to Congress in 2007, his response was the Army and the Navy can fill in.  Well, wait a moment here.  If the war plan calls for something, well, then, we did rent our national security fabric a bit by that tragic misadventure in Iraq. 

Second, we haven‘t even done exercises in our military, our ground forces, of combined arms, tanks, artillery, and exercise that way, because over the last six, seven years, we‘ve done nothing but counterinsurgency. 

SCHULTZ:  So, Congressman, you‘re telling our audience tonight we don‘t have the resources to put on the ground in South Korea.  We could be at the mercy—or South Korea could be at mercy of a million-man army that could swarm South Korea, depending on how many casualties they want to take, if it gets to that. 

So, I mean, this is some pretty serious stuff. 

SESTAK:  Ed, let me be clear about this.  You know, I have asked this question each year almost since I‘ve been a congressperson, and I arrived in Congress very concerned about that tragic misadventure in Iraq. 

But the response from the chairman has been, as well as the chief of staff of the Army, that they believe that the Navy and the Air Force can—can handle the initial defense of South Korea until at some time, Army units can arrive.  And this is what‘s important—I believe very strongly that the probability of this escalating is pretty darn low if we do things right diplomatically. 

SCHULTZ:  OK.

SESTAK:  But, second, Seoul is only 25 miles south of the demilitarized zone, and that‘s why any type of conflict will have quite grave damage. 

SCHULTZ:  Congressman Joe Sestak, always a pleasure.  Admiral, good to have you with us tonight. 

SESTAK:  Nice being with you.  Thanks for having me. 

SCHULTZ:  China, of course, is still the big player in this. 

Coming up, incoming Congressman Allen West proves he‘s out of touch, big time.  This guy has no clue. 

We‘re going to throw him in “The Zone” next on THE ED SHOW.

Stay with us.

(COMMERCIAL BREAK)

SCHULTZ:  And in “Psycho Talk” tonight, well, we saved a real turkey for you just before Thanksgiving. 

The bigoted, Islamophobic Congressman-elect Allen West of Florida, this guy‘s got a history of offensive, ignorant statements. 

Last night on “Meet the Press,” West, well, once again showed us that he doesn‘t have a clue what the heck he‘s talking about. 

(BEGIN VIDEO CLIP)

DAVID GREGORY, MODERATOR, “MEET THE PRESS”:  Congressman, on the issue of tax cuts, do you buy the president‘s argument, look, let‘s extend those Bush-era tax cuts for middle class first, then we can come back and do the upper earners, or at least have that conversation? 

ALLEN WEST ®, CONGRESSMAN-ELECT, FLORIDA:  No.  I think that we need to extend those tax cuts permanently across the board.  Look, I come from an area down in south Florida where unemployment is 13 percent, foreclosures are absolutely high.  We are seeing closed upon (ph) -- closed storefronts.  But, yet, when you walk around here in Washington, D.C., you don‘t see people getting laid off, you don‘t see anyone suffering, you don‘t see the foreclosures. 

(END VIDEO CLIP)

SCHULTZ:  Really? 

Mr. West, you‘ve already got the inside-the-beltway thinking going for yourself, don‘t you?  Maybe you didn‘t see it in your elite, sheltered Washington bubble, but that doesn‘t mean that it‘s not happening in Washington. 

Take a trip south of the Capitol, in D.C.‘s Eighth Ward.  The unemployment rate there was 26.5 percent last year.  In ward number seven, just east of Capitol Hill, the foreclosure rate was 21.4 percent.  But you didn‘t see it? 

Mr. West, forget the cocktail parties, buddy, and venture out into the city and learn. 

Ignoring suffering Americans doesn‘t make them go away.  Saying that Washington, D.C., is immune to layoffs and foreclosures is ignorant “Psycho Talk.”  

Coming up, two years from the election, and aren‘t we all already sick of Sarah Palin?  When a presidential candidate is clubbing fish on TV, I think that you‘ve got say something about it, don‘t you?  It‘s all about the exposure. 

Roy Sekoff, co-founder of “The Huffington Post,” is going to be sounding off on that and her media machine. 

Former Republican House Majority Leader Tom DeLay could face life in prison.  He was convicted, just convicted, for money laundering.  Mike Papantonio sounds off on that in just a moment.  

Plus, President Obama pardons some turkeys and “Daily Show” co-creator Lizz Winsted headlines a special edition of Club Ed.  You‘re watching THE ED SHOW on MSNBC.  Stay with us.

(COMMERCIAL BREAK)

SCHULTZ:  Welcome back to THE ED SHOW.  The “Battleground” story tonight, well, the American people are getting bulldozed by Sarah Palin‘s media machine of exposure.  That‘s what it‘s all about.  She‘s everywhere.  I mean, you can‘t get away from her.  She‘s got a new book out.  She‘s doing interviews.  She‘s clubbing fish with her reality show.  Her kids dancing with the stars in front of 20 million people.  And we‘re more than a year out from the primary season?  I tell you what, there‘s a real chance that Sarah Palin could be over exposed.  There could be the burnout factor.  Apparently, President Obama has already lost interest in her.  Here‘s what he told Barbara Walters in an ABC interview that airs Friday night. 

(BEGIN VIDEO CLIP)

BARBARA WALTERS, ABC ANCHOR:  You may have heard that Sarah Palin told me just last week that she could beat you if she ran.  Could she?

BARACK OBAMA (D), PRESIDENT OF THE UNITED STATES:  You know, I don‘t speculate on what‘s going to happen two years from now.  

WALTERS:  Mr. President. 

OBAMA:  Uh-huh.  

WALTERS: .you will not tell me that you think you could beat Sarah Palin?

OBAMA:  What I‘m saying is, I don‘t think about Sarah Palin. 

WALTERS:  OK. 

(END VIDEO CLIP)

SCHULTZ:  Roy Sekoff, founding editor of “The Huffington Post,” I thought he already beat Sarah Palin.  Wasn‘t she already on the last ticket?  

ROY SEKOFF, FOUNDING EDITOR, “THE HUFFINGTON POST”:  Yes, you know exactly.  You know, what did she think that he was going to say?  You know, is that someone going to get all trash-talky like he‘s a boxer, you know?  If she runs against me, I‘ll drop her in three?  You know, it was kind of a ridiculous question.  I mean, no sitting president is going to speculate 24 months out about each of his opponents and what their electoral chances are going to be, you know, it‘s ludicrous.  He‘s the president.  She‘s got a show on TLC, come on.  

SCHULTZ:  Roy, what about this media machine that she‘s put together?  Is this just a peak right now or is this the way that it‘s going to be for the next two years?  It is new age, it is unconventional.  She‘s attacking the media.  She plays the role of a victim.  How do you see it?

SEKOFF:  She‘s absolutely brilliant at this, Ed, I have to be honest, because she‘s sort of the bizarre world candidate.  Everything that you think she does the opposite, you know?  I mean, she makes mistakes.  She has a malapropism that most people would be mock.  She gets a refudiated as name of the word of the year, I don‘t know if you‘ve saw that.  So, she‘s got his very strange abilities, kind of like a judo master, you know, to take her liabilities and turn them into strengths.  I mean, I‘m telling you Ed, if you‘ve got ten of her supporters and said OK, here are all of the ways that she‘s lied to you and said the wrong thing and they‘d, go yes, I think I like her even more, whereas Obama I think has the opposite problem.  You get his supporters and you list all of the ten accomplishments and they go, yes, what about the things that he didn‘t do?

SCHULTZ:  Are liberals rooting for Sarah Palin in your opinion?  I think they are.  

SEKOFF:  Well, they absolutely are but this could be one of those, be careful for what you wish for things.  I mean, I know the conventional wisdom is, yes, you know, Sarah gets there and Obama will clean her clock but she‘s really shown that she confound, you know, the conventional wisdom.  You know, she‘s really hit the thing that they would ignore at their own peril, Ed, she‘s hit this populist vein.  We saw it today, she was on the radio today, and not only that she takes a swipe in Michelle Obama but she took a swipe with Barbara Bush by saying that she was a blue bud elitist.  And that‘s the game she‘s playing.  That‘s what the TLC show is all about, that‘s what the book tour is all about.  She is connecting to the regular people and I think it‘s too easy to just dismiss her.  I think it would be a mistake.  

SCHULTZ:  Roy Sekoff, always a pleasure.  Good to have you with us, Roy.  

SEKOFF:  Happy Thanksgiving to you, Ed.  

SCHULTZ:  You bet.  Palin‘s media machine of exposure really is stuck in a slew when it comes to China, she doesn‘t know what in the heck she‘s talking about.  In her book, she talks about being a commonsense constitutional conservative.  Is it common sense to let banks run wild profit?  Is it common sense to let China eat our lunch when it comes to jobs?  Palin told FOX, the United States shouldn‘t mess with China.  

(BEGIN VIDEO CLIP)

SARAH PALIN, FORMER ALASKA GOVERNOR:  We see with the quantitative easing of the Feds that Barack Obama has now come out and supported as the Fed says that we‘re going to print more money out of thin air and we‘re going to incur more debt and we‘re going to devalue our dollar and we‘re going to mess with China‘s currency.  We‘re going to preach to them that they can‘t be messing with it but we‘ll be messing with our own.  

(END VIDEO CLIP)

SCHULTZ:  Joining me now is Scott Paul, executive director, Alliance for American Manufacturing.  Scott, what do you make of that?  You‘ve got the majority of people in Congress who are concerned about manipulation currency by the Chinese but it doesn‘t seem to strike an accord with Sarah Palin. 

SCOTT PAUL, DIRECTOR, ALLIANCE FOR AMERICAN MANUFACTURING:  I mean, she‘s out of touch with her own party on this, 99 Republicans in the House of Representatives supported a bill to hold China accountable for its currency manipulation.  Ronald Reagan devalued the dollar back in the 1980s when we were having a trade problem with Japan.  I‘m not sure she understands what quantitative easing is and how it‘s different than Chinese currency manipulation, which is an illegal practice, that the world doesn‘t like and the Chinese don‘t like us talking about because it is of great benefit to the Chinese workers or the Chinese bank.  It‘s how they are racked up trillions of dollars in trade surpluses and it‘s meant shuttered factories and broken dreams here at home for millions of workers. 

SCHULTZ:  Isn‘t it somewhat shocking that she thinks that the manipulation of currency really isn‘t an issue?

PAUL:  Well, I don‘t know what surprises me more, the fact that she doesn‘t understand currency manipulation, quantitative easing, or that she, in essence, is supporting the position of the communist government in China as opposed to mainstream economics in this country about how to put people back to work.  And it is of great concern to me, because I don‘t think she understands economic policy.  And I‘m—I don‘t know if we can expect her to stand up to China on this stuff.  She said she can see Russia from her backyard.  Can she see the great wall?  I‘m not sure what‘s going on here, Ed, but it‘s of concern to me that she doesn‘t understand kind of the basics of. 

SCHULTZ:  Yes.  

PAUL: .macroeconomic policy and how it works. 

SCHULTZ:  How about that?  Sarah Palin pawing around with the communists on economic issues.  Scott, good to have you with us tonight.  Happy Thanksgiving.  

PAUL:  Thanks, Ed.  

SCHULTZ:  You bet.  Now, let‘s get some rapid-fire response from our panel on these stories. 

A new poll suggests President Obama will have an uphill battle trying to get re-elected in 2012. 

Mike Huckabee and the drugster, well they want the Obama girls to get a TSA pat-down. 

With us tonight nationally syndicated radio talk show host, Stephanie Miller.  And nationally syndicated radio talk show host, Bill Press.  Great to have both of you with us tonight.  

BILL PRESS, RADIO TALK SHOW HOST:  Hi, Ed.  

SCHULTZ:  I know in your shows and in mine, the TSA is still of course the big story, but don‘t you think we‘d be going a little bit far if we did it to the Obama kids?  What do you make, Bill?

PRESS:  You know Rush Limbaugh said the same thing, Ed.  I was wondering Mike said this morning, how long it had been since Rush Limbaugh flew commercial himself, right?  You know, he can‘t fly commercial because he can‘t carry his hillbilly hair on the plane with him, but look, do you really think—really think, it‘s just pure politics.  Do you really think that if President Obama did what they said and went to national airport and got the whole family patted down, that all of those people who are raising hell about this would say, oh, Obama‘s for it, that‘s OK with us.  Now, we‘ll back off.  It‘s crazy. 

SCHULTZ:  Stephanie, have listers figured out that this is all about politics in getting President Obama to look bad on security, what do you think?

STEPHANIE MILLER, RADIO TALK SHOW HOST:  I think so, Ed, and the fact that I don‘t think that there‘s a human being in the world that would want a pat-down Rush Limbaugh.  

PRESS:  God forbid.  

MILLER:  So, I think that it‘s probably a good thing he doesn‘t fly commercial but yes, it‘s pure politics, Ed.  I mean, it‘s like, you know, the president‘s trip $200 million a day and I mean, he‘s the president.  He needs special planes and a special security.  I mean, you know, it‘s just ridiculous politics to say, oh yes, put your wife and kids through it.  Look, I mean, they‘d be the first ones screaming, Ed, if there is another terrorist attack.  Why weren‘t people scream and why didn‘t we do this?  You know, they would have been fine with it under the Bush administration.  

SCHULTZ:  What do both of you thinks, Stephanie you first, on an uphill battle for the president when it comes to getting re-elected?  We‘re a long way away but there‘s a number of Democrats out there polling in the 40 percentile range that they think that President Obama should have a primary challenge.  What do you think?

MILLER:  Well, you know, Ed, I agree with what you say, most nights here is that, you know, I think he really does have to rally and motivate his base and I think starting today when he talked about the, you know, the auto bailout, you know, he has been right on a lot of issues, Ed, and I‘m glad David Plouffe is coming back in early to get him back in campaign mode and to talk about his accomplishments and really take it to him. 

PRESS:  Yes, Ed. 

SCHULTZ:  Go ahead, Bill.  

PRESS:  Yes, I was just going to say, look, I—I would think primaries are always a good idea.  I think they rejuvenate a party and everything, but this is a message for President Obama I think for the next two years, that he can‘t forget his base.  And I think he has forgotten his base a little bit.  I think it‘s a message for him,  listen, there‘s a lot of stuff that you talked about that we really count on you to do and now is a time to do it and don‘t feel you have to go to the center and don‘t feel you‘re going to make any deals with these Republicans.  Stick to your base, stick with middle class America and you‘ll going to be fine in 2012.  I hope he gets that message.  

SCHULTZ:  Marist McClatchy poll out says, would you vote to re-elect President Obama in 2012?  I tell you, 16 percent undecided, 36 percent yes, 48 percent no.  I think that‘s trouble on the horizon.  He‘s going to have to get tough and play to his base.  Do you want a primary challenge for President Obama?  Forty eight percent say no.  But isn‘t that a high number, you know, I just, I‘ll tell you what, this is going to be interesting.  Great to have you with.  Bill Press, Stephanie Miller, always a pleasure.  Happy Thanksgiving to both of you.

PRESS:  Thanks, Ed.  

MILLER:  Thanks, Ed.  You too.

SCHULTZ:  Coming up, former republican—you bet, former Republican House Majority Leader, Tom DeLay could face life in prison.  He was just convicted of money laundering.  Attorney Mike Papantonio breaks it down.  Will Tom DeLay go behind bars?  What does this mean?  That‘s next on THE ED SHOW.

(COMMERCIAL BREAK)

SCHULTZ:  And it‘s not too late to let us know what you think.  Tonight‘s text survey question is, do you think long-term unemployment will make Barack Obama a one-term president?  Text A for yes, text B for no to 622-639.  We‘ve got the results coming up.  Stay with us. 

(COMMERCIAL BREAK)

SCHULTZ:  And in my “Playbook” tonight, big numbers here.  Former House Majority Leader Tom DeLay could face life in prison.  He was just convicted on charges of money laundering and conspiracy to commit money laundering.  DeLay and two political operatives, John Colyandro and also Jim Ellis violated the criminal money laundering law.  They were charged with conspiracy to funnel $190,000 in corporate donations to state candidates through the republican national committee.  DeLay just spoke to reporters, and said the verdicts were, quote, “a miscarriage of justice” and he vowed to carry on.

Joining me now is attorney and radio talk show host Mike Papantonio.  Mike, to a lot of liberals in this country, this has been a long time coming.  Has justice been served in your opinion and what does Tom Delay face?

MIKE PAPANTONIO, ATTORNEY:  It‘s a good beginning.  But you‘ve got to understand, Tom DeLay is a man like with non-political lives.  He‘s missed criminal prosecution for things that should have been looked at a lot more closely.  Look, most Americans missed or forgot about the Abramoff story.  The conduct of Abramoff put Abramoff in prison.  DeLay was so closely associated with that conduct, it‘s almost like the media forgot it, the court system forgot it.  Look, this is a guy along with that Abramoff story he was telling lobbyists.  You remember the K-Street story, Ed?  He was telling lobbyists that in order to talk to Tom DeLay, you had to pay $50,000. 

Now, I got tell you something, when that was happening, the Republicans controlled Congress and they controlled Senate.  So nothing was ever done about that.  The truth is, the real serious charges, Ed, this is the other part of this story, the real serious charges were actually thrown out of court by the very republican judges that Tom DeLay appointed to the bench.  The media almost missed that story.  Four other charges.  Very serious charges that they were basically thrown out because the judges that he appointed said, we‘re not going to do anything about it. 

The good news here, Ed is this, this is a huge victory.  Maybe it will be a big message to Eric Holder that juries do care about corruption.  If he would have the courage to do what that courageous prosecutor down in Texas did, which is to hang in there, put up with all the political attacks, put up with all of the media attacks and go after somebody that he knew was guilty.  If a jury hears this kind of conduct, Ed, they do react.  I can think of two or three prosecutions that the Fed‘s ought to be thinking about right now. 

SCHULTZ:  It‘s going to be interesting, Mike to see what the right wing does.  Are they going to throw him under the bus, are they going to say that he‘s been wrongly convicted, or are they just going to let it go and not say anything?  What‘s your prediction on that?

PAPANTONIO:  Well, they‘re going to—what we‘re going to hear is it‘s politically driven, it‘s all about politics. 

SCHULTZ:  Yes.  

PAPANTONIO:  It‘s been his defense from day one, that this is simply out to go get Tom DeLay.  Every time republican gets into trouble, it‘s political.  It‘s somebody going after him.  They use that defense, Tom DeLay has spoken those words more times than I can count.  I‘ve got tell you something, though, a jury listened to that case and 12 juries said, no, sir, it‘s not political.  You are a thief and you need to go to prison for it.  And the best we can hope for, probably, is the neighborhood of about five years. 

SCHULTZ:  All right.  Mike Papantonio, have a great holiday, my man. 

Great to have you with us tonight.  Thanks so much. 

PAPANTONIO:  Thank you.  

SCHULTZ:  Coming up, couple of final pages in the “Playbook” tonight, “Motor Trend” magazine named the Obama-approved Chevy Volt, car of the year, so the drugster got all bent out of shape and attacked the magazine.  “Motor Trends” shot right back, I love it, with some travel advice, reminding him that, quote, “Driving and Oxycontin Don‘t Mix.”  That‘s some pretty good advice, drugster. 

Rumors are spreading that Christine, the teenage witch O‘Donnell could be the next righty to join “Dancing with the Stars.”  O‘Donnell is currently not working after her failed Senate run and she would get at least $200,000 to appear on the show. 

And finally, President Obama took part of the White House Thanksgiving tradition of pardoning turkeys today.  Interesting on a day that Tom DeLay gets convicted.  He saved the lives of Apple and Cider, two 45-pound gobblers from California.  The pair will be headed off to the grounds of Mt. Vernon, Virginia.  The former residence of George Washington.  The president was also happy, at least, someone got spared this November. 

(BEGIN VIDEO CLIP)

OBAMA:  Today, I have the awesome responsibility of granting a presidential pardon to a pair of turkeys.  Now, for the record, let me say that it feels pretty good to stop at least one shellacking this November. 

(END VIDEO CLIP)

SCHULTZ:  President Obama at the White House today.  

Coming up, there is hope, the right wing conspiracy behind Bristol Palin‘s dance moves, well, it‘s officially over.  “Daily Show” co-creator Lizz Winstead gives us expert analysis on all of the moves and the in “Club Ed.”  Stay with us.  We‘re right back.

(COMMERCIAL BREAK)

SCHULTZ:  Welcome back.  Well, it‘s Wednesday, not Fridays, but it is time for a special edition of the Thanksgiving edition of “Club Ed.”  With us tonight “Daily Show” co-creator Lizz Winstead.  All right, Lizz, we‘ve just been exposed to some of the most talented dancing I think we‘ve ever seen in the history of moves.  

(LAUGHTER)

LIZZ WINSTEAD, “DAILY SHOW” CO-CREATOR:  You know, Ed, I love that you called me an expert on “Dancing with the Stars.”  When I‘ve only watched it, A, when Tom DeLay was on, before he was convicted.  And now this.  And you know, it‘s so—here‘s what I‘m waiting for, you know, the people have spoken, and they have said Bristol‘s in third.  You know that Joe Miller‘s attorneys are going to go in there and help with the recount.  You know that‘s going to happen.  This is happening.  

SCHULTZ:  Is the criticism of Bristol Palin, in your opinion, warranted?

WINSTEAD:  Look, she has—she has—she turned herself into a celebrity, right?  Or a famous person.  So, therefore, she‘s no longer Bristol Palin/Sarah plain‘s daughter.  Now, she‘s just another hack trying to become famous without any talent.  So, yes, it‘s absolutely warranted.  And guess what, big fat fail.  Fail, honey, fail.  Yes.  

SCHULTZ:  Sarah Palin, we have been exposed to her at an unprecedented rate this week.  What do you make of it?  Is this going to all the way through to 2012?  What do you think?

WINSTEAD:  Dude, I thought that grizzly bears hibernated, like honestly, like why doesn‘t Mama Grizzly just take the winner off and lay down, you know?  And it‘s so interesting to be on “Club Ed” when you have the footage of her clubbing fish.  Ed, you have clubbed fish when you fish?  Are you known to be a fish clubber?

SCHULTZ:  I have not.  No, I haven‘t.  Now, those are halibut that what she‘s clubbing right there and that is what they do.  

WINSTEAD:  I understand, but why is that endearing?  You know what we haven‘t had in an American president, one who clubs the crap out of a fish.  You know what, she brings such new and interesting things, the thought of her being president to the office, really?  I mean it‘s—I mean it‘s just like—it‘s just got to stop at this point.  Like, I‘m so tired of her, because every moment that she takes a step in putting herself in the limelight has nothing to do with her becoming a smarter person that is qualified to lead the country. 

SCHULTZ:  All right.  TSA screenings, Rush says that the Obama kids should be subjected to a TSA pat-down.  What‘s your response?

WINSTEAD:  You know, if Rush wants to see kids being subjected to a pat-down, we need to send Chris Hansen to Rush‘s house to be screening the TSA screenings because this is getting absurd.  I mean, how could you say, I want to see kids, unless you want it to become “Dateline TSA.”  It‘s maddening.  I mean, I‘m not flying home this year, I‘m driving, so I think I‘m just going to pat myself down and then get in my car and drive across country.  That‘s my plan.  

SCHULTZ:  All right.  We just had the big news that Tom DeLay has been convicted of money laundering.  I know he‘s one of your old-time favorites.  What do you think?

WINSTEAD:  You know, I‘m so happy, I have to tell you, every time I will watch the Sunday shows and I would see Tom DeLay, the first thing I would think is, why isn‘t he in jail?  Why is he not in jail?  So, finally, hot tub Tom is having his goose cooked and it‘s so amazing.  And you said it exactly right, the irony of Obama pardoning the turkey when the biggest turkey of all is finally not getting a pardon.  I‘m so psyched.  Justice.  

SCHULTZ:  Lizz Winstead.  Always a pleasure.  

WINSTEAD:  Thanks, Ed. 

SCHULTZ:  Have a great Thanksgiving. 

WINSTEAD:  You too.

SCHULTZ:  And thanks for joining us.  You bet.  Check out Lizz‘s annual year-end review show at the Parkway, Theater in Minneapolis.  Tickets and information are at lizzwinstead.com. 

Tonight, in our text survey I asked, do you think long-term unemployment will make President Obama a one-term president?  It was split.  Fifty percent of you said, yes, 50 percent of you said no.  And tomorrow of course is Thanksgiving.  Can we say a prayer for all of the men and women that served this country in uniform around the world?  They‘d love to be at home with their family, the way you will be at home tomorrow with yours.  Let‘s give a big thanks to the men and women in uniform in this country who are around the world serving.  That‘s THE ED SHOW.  Have a great Thanksgiving.  I‘ll see you back here on Monday.   

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