With his tongue firmly planted in his cheek of course. The Daily Show heaped some well deserved criticism on Fox News, the debate expectation game, Santorum (Google him, heh), Godfather Pizza guy, and of course Ron Paul stealing the show:

Can we get Stewart and Stephen Colbert to jointly moderate one of these presidential debates? I can only fathom the results of such a public dialog moderated by arguably the two most trusted media commentators in a generation.