"A new CBS poll shows President Obama's approval rating at just 46%, and the Rasmussen daily tracking poll shows that a whopping 53% of registered voters disapprove. Talking Points predicted that last week - I said that Americans were not thrilled with President Obama's rather unemotional response to the Christmas terror situation. Also, the secret health care nonsense, starring Nancy Pelosi and Harry Reid, is not helping President Obama at all. To be fair, Ronald Reagan had low approval numbers at the same time in his tenure, and President Obama has plenty of opportunity to turn things around. But right now he can not be a very happy guy."

The Factor welcomed the newest member of the Fox News team, former VP candidate Sarah Palin, who began by analyzing President Obama's sinking poll numbers. "It was just a matter of time," Governor Palin said, "before people's uncomfortable-ness toward this administration was manifested in the poll numbers. Americans don't feel as safe as we had felt, and people are finally saying this is not the representative form of government that we thought we had voted in. People are saying we want common sense solutions on health care, jobs, the economy, and the war on terror so we can get back on track."

Palin provided her prescription for the U.S. economy. "Government can get out of the way of the private sector being able to grow, and you do that by reducing taxes on the job creators. When you consider that the White House wants to take another one-sixth of our economy and put it in government's hands, that's another step towards greater unemployment." The Governor also critiqued Senator Harry Reid's racial remarks about President Obama. "You can't defend those comments. That way of thinking is quite foreign to most Americans today, who don't think along the lines that someone's skin tone would be a qualification for the presidency."

The Factor asked Palin about a new book that claims she was woefully unprepared for the vice presidency, and didn't even know why there are two Koreas. "That is a lie," Palin declared. "These reporters were not any part of what I was doing as a VP candidate. I was there, they were not there, and they didn't interview me for the book. These are political establishment reporters who like to gin up controversy and spin gossip. The rest of America doesn't care about that crap." The Factor enthusiastically welcomed Palin to the FNC roster: "The perception of you is that you're not that smart. That's what Saturday Night Live trafficked in, that's what the liberal media traffics in. That's why I want to clear this up by asking these questions. The Factor audience likes you and they want you to be treated fairly."

FNC's Alan Colmes and Monica Crowley offered instant analysis of Sarah Palin's debut. "I understand why she's popular," Colmes said. "She viscerally connects with people, and it doesn't matter to them that she now has different positions as a 'populist' than she did as a governor. But she's not a real policy person and it's very possible that she didn't know some of that stuff." Crowley tried to explain the left's unending hostility towards Palin. "She represents an existential threat to liberalism. She is a pro-life, pro-gun woman and she actually leads her life according to those values. When a conservative is that threatening, the other side has to destroy her. When she sat here tonight, she was talking over the heads of the media to the American people."

CBS News has reported that a Congressional delegation boarded three military jets to attend the recent climate conference in Copenhagen. FNC's John Stossel entered the No Spin Zone with his analysis of the junket. "It's good that they didn't accomplish anything," Stossel opined, "because what they would have accomplished would have been bad. But members of Congress and their families went and the government paid for it. Two sources tell us that Senator John Kerry took a military jet all by himself." The Factor lambasted the delegation for its blatant financial recklessness. "There was no reason for more than 20 Congress people and their families to go over to this stupid thing when nothing was accomplished. This was a boondoggle, they just wanted to party! We have a $13 trillion debt and these jokers in both parties are not taking it seriously."

Lawyers for suspected terrorist Ahmed Ghailani, who is being tried in civilian court for bombing two U.S. embassies, are claiming that his five-year detention at Guantanamo Bay violated the Constitution. The Factor examined the case with FNC legal analysts Lis Wiehl and Kimberly Guilfoyle. "It's in our Constitution that you have the right to a speedy trial," Wiehl explained. "But the law also says that a judge can waive the speedy trial for the sake of justice. I don't think the case will be thrown out." Guilfoyle blasted Attorney General Eric Holder for moving terror trials to civilian court. "They are giving rights and privileges to enemy combatants, people who have committed acts of terror against the United States. It's a subversion of justice." Meanwhile, the ACLU may sue an Oregon city for banning public nudity. "The ACLU says this violates your First Amendment right to freedom of expression," Wiehl stated. "The ACLU is going to lose big-time because all the city said is that if you are over eight years old and you're in a public place, you can't run around nude."

Finally, The Factor asked TMZ's Harvey Levin to sort out the late-night mess at NBC, where Jay Leno's 10 PM show has been cancelled and Conan O'Brien may quit. "It looks like O'Brien is leaving," Levin reported, "and NBC has a problem because they are in breach of his contract. He could literally go to the beach and make $80 million over the next four years. I'm told NBC would be happiest if they could give Jay Leno a full hour at NBC and they could call it 'The Tonight Show' again." Putting modesty aside, The Factor reminded Levin of an earlier prophecy. "I did predict this debacle, and I am now predicting that Conan O'Brien will go to the Fox broadcast network, where he'll do an 11:00 PM program. NBC is in chaos."

Tuesday's Patriots: The three Navy SEALS who are being prosecuted by the military for supposedly punching a terrorist in Iraq. And the Pinhead: The crazed guy who verbally harassed 85-year-old George H.W. Bush at a Houston restaurant.

Jackie Ragsdale, Greensboro, NC: "As an African-American, I was offended by what Harry Reid said. It's nice to know what liberals are saying behind closed doors."

Marie Peterson, Marietta, GA: "Reid's comments are basically racist and I have heard things like this throughout my entire life. I am African-American and Reid should have apologized directly to me."

Ed Smith, Deland, FL: "Bill, you stated Michelle Obama misspoke in the 'proud of her country' remarks. I think not! Her unscripted comment was genuine."

Carl Walker, Orange, CA: "I am saddened to see Sarah Palin become a Fox News commentator. I think it ends her political future."