In the wake of the controversy surrounding Barack Obama’s use of the phrase "lipstick on a pig," on Thursday’s CBS Early Show, co-host Maggie Rodriguez declared: "Lipstick wars. Barack Obama fires back." A clip was then played of Obama on Wednesday’s Late Show with David Letterman: "Technically, she [Sarah Palin] -- had I meant it this way, she would be the lipstick. You see?... The failed policies of John McCain would be the pig." In a later segment, the on-screen graphic appeared: "‘Lipstick On A Pig’ Dustup: Smear Tactics?"

In the second half of that segment, Rodriguez talked to liberal George Mason University professor Michael Fauntroy about the issue and Obama’s comments on Letterman: "I want you to listen to what he said to David Letterman last night about his lipstick comment...Michael, do you think he explained it or made it worse?" Fauntroy replied: "I think he explained it." Rodriguez went on to question whether Obama should have just avoided using the phrase to begin with, but Fauntroy disagreed: "...then both candidates are in big trouble because you end up in a circumstance in which you have to censor yourself in a way that may be -- may go beyond who you are as an individual. And what voters want to be able to see from the candidates is authenticity and that may not be possible if candidates are worrying so much about what they say."

Earlier in the segment, Rodriguez asked Fauntroy: "Walking by a news stand here in New York City yesterday, all I could see was Sarah Palin staring back at me on countless newspapers and magazines. Can you ever remember a campaign when the vice presidential candidate grabbed the attention as much as she has?" Rodriguez then went on to add: "So much for criticizing celebrity. It seems to me that John McCain is embracing hers." Fauntroy explained: "You know, we are a celebrity driven society, just as Barack Obama in 2004 became an instant celebrity. You know, the same thing is happening right now with Sarah Palin. And so rather than resist him, McCain is saying, well, wait a second, I may be able to make this work for me."

Here is the full transcript of the segment:

7:00AM TEASER:

MAGGIE RODRIGUEZ: Lipstick wars. Barack Obama fires back.

BARACK OBAMA: Technically, she -- had I meant it this way, she would be the lipstick. You see?

DAVID LETTERMAN: Well, you're-

OBAMA: The failed policies of John McCain would be the pig.

7:05AM SEGMENT:

MAGGIE RODRIGUEZ: Governor Sarah Palin is back home this morning in Alaska. She told supporters in Fairbanks she's had an amazing few weeks since being chosen as John McCain's running mate. CBS News correspondent Nancy Cordes is in Fairbanks. Nancy, good morning. Or should I say good evening. I know it's the middle of the night where you are.

NANCY CORDES: Hard to tell the difference, Maggie. It's about 3:00 in the morning here. And when Governor Palin left the state two weeks ago, she was a popular new governor. She has returned a national phenomenon, with all of the attention and the scrutiny that comes with that. A jubilant crowd of more than a thousand were waiting at the Fairbanks airport to welcome Palin home.

[ON SCREEN GRAPHIC: "Lipstick On A Pig" Dustup: Smear Tactics?]

SARAH PALIN: We've been talking all about Alaska and people are impressed. What a trip it's been and I cannot wait until you meet John McCain.

CORDES: All of the attention is still a little surreal for residents of the 49th state.

UNIDENTIFIED MAN: Great. Great. You know? The largest land mass in the United States of America and finally we get some notice. It's pretty cool. We really like it.

CORDES: Palin herself has gone from a little known governor to a household name in no time. Her political and personal tale landing her on the covers of news magazines and tabloids alike.

KEN VOGEL: It's a little bit like Barack Obama's rise. If you remember when he spoke at the 2004 Democratic National Convention no one had heard of him. By the time he was done he was already marked for greatness.

CORDES: Palin is returning home to renewed controversy over the troopergate scandal. Newsweek magazine has obtained court records which show that during her sister's divorce hearing three years ago, the judge in the case ordered Palin and members of her family to stop, quote, ' Disparaging' the Governor's former brother-in-law, an Alaska state trooper. How do you feel about the way that she's been scrutinized over the past couple of weeks?

UNIDENTIFIED WOMAN: That stinks.

UNIDENTIFIED WOMAN B: Well, scrutinization is fine. It's the other stuff that stinks.

WOMAN: Yeah. Yeah, they're trying to find so much dirt on her. You're not going to find it-

WOMAN B: Or make it up.

WOMAN: Yeah.

CORDES: At Palin's welcome ceremony, some supporters were sporting plastic lips, a reference to Senator Obama's 'lipstick on the pig' comment, which the McCain campaign said was a veiled attack on Palin. Obama calls it a manufactured controversy and went on the offensive Wednesday.

BARACK OBAMA: They seize on an innocent remark, try to take it out of context, throw up an outrageous ad because they know that it's catnip for the news media.

CORDES: We may hear what Governor Palin thinks of the lip flap later today when she sits down for her first televised interview since landing the nomination. Also, today, Maggie, she'll be saying good-bye to her son Track's Army unit which will be deploying to Iraq.

RODRIGUEZ: Wow. On the anniversary of 9/11. Nancy, thank you very much. Barack Obama talked more about the lipstick comment on David Letterman last night, we'll let you hear that in just a minute. We're joined now by Michael Fauntroy, he's with us in Washington D.C., an associate professor of public policy at George Mason University. Michael, good morning to you.

MICHAEL FAUNTROY: Good morning, Maggie.

RODRIGUEZ: Walking by a news stand here in New York City yesterday, all I could see was Sarah Palin staring back at me on countless newspapers and magazines. Can you ever remember a campaign when the vice presidential candidate grabbed the attention as much as she has?

FAUNTROY: No. But part of the reason for that is she is the new kid at school. You know, we know about Barack Obama, John McCain and Joe Biden and then out of nowhere, seemingly, comes someone who brings a fresh face, is attractive to voters. And I think, for that reason, she's riding a wave of attention right now. And so for the McCain campaign, the trick will to be keep the good feelings going through November.

RODRIGUEZ: So much for criticizing celebrity. It seems to me that John McCain is embracing hers.

FAUNTROY: Well, and well he should. You know, we are a celebrity driven society, just as Barack Obama in 2004 became an instant celebrity. You know, the same thing is happening right now with Sarah Palin. And so rather than resist him, McCain is saying, well, wait a second, I may be able to make this work for me.

RODRIGUEZ: Speaking of Barack Obama, I want you to listen to what he said to David Letterman last night about his lipstick comment.

OBAMA: Keep in mind that, technically, she -- had I meant it this way, she would be the lipstick. You see?

DAVID LETTERMAN: Well, you're-

OBAMA: But now we're-

LETTERMAN: I don't know. You're way ahead of me.

OBAMA: Yeah. Yeah. The -- the failed policies of John McCain would be the pig.

LETTERMAN: Now do you-

RODRIGUEZ: Michael, do you think he explained it or made it worse?

FAUNTROY: I think he explained it. I don't think any reasonable person would look at -- would listen to that comment and think that he was being disrespectful to Sarah Palin. You know, I certainly didn't see it that way. You know, 'lipstick on a pig' is a comment that I remember hearing as a small child, so I don't -- I don't take much umbrage. But it does speak to what's going on right now in the political season in which both sides are trying to find issues, either large or small, that can be used to knock the other side off balance a little. And so it's not at all unusual for one campaign to make a mountain out of a mole hill.

RODRIGUEZ: But here's the thing. No one would be talking about it if he hadn't said it. Because it came fresh off her lipstick comment, do you think that either Senator Obama, or someone in his campaign, should of said 'maybe I should refrain from using that expression because it could be misinterpreted?'

FAUNTROY: Well, you know Maggie, if that's the case, then both candidates are in big trouble because you end up in a circumstance in which you have to censor yourself in a way that may be -- may go beyond who you are as an individual. And what voters want to be able to see from the candidates is authenticity and that may not be possible if candidates are worrying so much about what they say.

RODRIGUEZ: Alright, Professor Michael Fauntroy, thank you for your insight.

FAUNTROY: Very welcome.

—Kyle Drennen is a news analyst at the Media Research Center.