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Stephen Colbert on Thursday turned his attention to the GOP's rough waters ahead of this weekend's South Carolina primary. Rick Perry dropped out of the race to become more leathery. A photo of Rick Santorum sharing a couch with a man surfaced after the former senator claimed he only sits with his wife. And Mitt Romney actually lost Iowa to Santorum.

"First Mitt won Iowa, then he lost Iowa? It's a classic Romney flip-flop," Colbert said.

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In another round of the expectations game, a Romney adviser is saying that Mitt could lose South Carolina.

“Do I think we could lose South Carolina? Sure. Of course,” Romney strategist Stuart Stevens told CNN after Thursday’s presidential debate in Charleston.

Despite what Stephen Colbert has said, Herman Cain told the rally crowd “not” to vote for Herman Cain. Cain doesn’t want young voters to waste their vote, he said.

Colbert asked supporters to vote for Cain because his name appears on the South Carolina ballot while Colbert’s does not.

Herman Cain is repeating his well-rehearsed talking points at a South Carolina rally with Stephen Colbert. And the crowd is responding with tepid applause. One attendee reportedly yelled “Bring Colbert back.”

Sen. Harry Reid's office has just distributed the following email:

Washington, D.C. - Nevada Senator Harry Reid released the following statement today on the Senate's PROTECT I.P. Act:

"In light of recent events, I have decided to postpone Tuesday's vote on the PROTECT I.P. Act.

"There is no reason that the legitimate issues raised by many about this bill cannot be resolved. Counterfeiting and piracy cost the American economy billions of dollars and thousands of jobs each year, with the movie industry alone supporting over 2.2 million jobs. We must take action to stop these illegal practices. We live in a country where people rightfully expect to be fairly compensated for a day's work, whether that person is a miner in the high desert of Nevada, an independent band in New York City, or a union worker on the back lots of a California movie studio.

"I admire the work that Chairman Leahy has put into this bill. I encourage him to continue engaging with all stakeholders to forge a balance between protecting Americans' intellectual property, and maintaining openness and innovation on the internet. We made good progress through the discussions we've held in recent days, and I am optimistic that we can reach a compromise in the coming weeks."

At a rally with Herman Cain Friday, Stephen Colbert said: “The only difference between Mitt Romney and a statue of Mitt Romney is that a statue never changes its position.”

Thursday was a big day for former House Speaker Newt Gingrich. Late that morning, Rick Perry dropped out of the presidential race and offered Gingrich his endorsement. And just minutes later, the cable news networks pivoted to a tell-all interview with Marianne Gingrich, Newt's second wife.

"Yes, Rick Perry's endorsement of Newt Gingrich gave the former Speaker a three-minute respite from the news that Gingrich's ex wife was about to go divorce court on his ass," Stewart said Thursday.

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Stephen Colbert kicked off his rally with Herman Cain with the Star Spangled Banner and a simple chant: “USA, USA, USA!”