The Daily Show and their TiVos

How does The Daily Show compile all their amazing clips of politicians saying one thing one day, and the opposite thing several months before? From a long New York Times profile of Jon Stewart and his operation of the show:Crazy, huh? I suppose that's what it takes to record every 24hr news network around the clock, every day of the year. I wonder if they could reduce some of those by going to dual tuner TiVoHD models and dropping terabyte drives into them? I'm also curious if they store archival video footage onto file servers, or if they're only tracking the past 24hrs of the news cycle each day.