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Jeff explains the benefits of Microsoft Word as a word processing program, highlighting its ability to format text in various ways such as bold, italics, left justified, right justified, and center-aligned. While it may not be as advanced as desktop publishing, Microsoft Word can still help create professional-looking documents with graphics, chapters, and page numbers. It is versatile and can handle a wide range of tasks, making it a useful tool for writing stories, books, letters, articles, and more. Overall, Microsoft Word is a powerful program that can support various publishing needs.