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Drag the clip into the Source Monitor
Mark an IN point and mark an out point. (IN and OUT Markers are buttons on the bottom of the source monitor or use "I" and "O" keys)
Drag that clip from Source MOnitor to the Timeline (or Program Monitor).
That should get you started but there are a number of ways of doing this in Premiere.
I generally recommend hiring a professional when I see questions such as this. I mean, it is what we're trained for, and we do rely on folks such as yourself for our livelyhoods.
On the training DVD that comes with the product there are some very good video tutorials that are well worth reviewing if you are new to the program. Good for old hands, too.
If you can't find the DVD, they are on line at http://www.adobe.com/designcenter/video_workshop/.
I totally understand about the "hiring a professional" and if it was up to me we would, but our director doesn't want to pay for this stuff when he sees we can record and just drop it to a video...he's not concerned with a "polished" look to the video...BUT i do want to be able to do some really basic "cut-n-paste" and editing.
I think you will find that you end up wasting time rather than producing a product you can use by not getting a professional.
I recommend taking a complete course, such as on Lynda.com where you can pay $25 for the month and take all the training you need for the task you are looking to accomplish.
It starts from the beginning and takes you all the way through. If your boss wants it done, the hours spent learning will save twice that many in production.
Adobe products are great but they are thoroughly professional and often require a certain amount of time, discipline and persistence to learn. If you are not editing video for a living then you might just want to go with a simpler editing program.
Here you will find links to many free tutorials that will quickly show you how things are done in PPro:
http://ppro.wikia.com The PremiereProPedia
You can pick it up on your own. There are plenty of tutorials free online, or I can recommend lynda.com (but it costs -- you or your boss have to decide if it's worth it. And I'm sure there are other brand names out there...)