Not having CBC, I use Photodeluxe (sort of a Photoshop lite), and the good thing about that program is that you can add the text directly to the picture, and then select the area around it with the select tool and hit delete. It will delete the background but leave the text. Using this method allows you to size the balloon to the text, rather than the other way around.

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"The future's uncertain and the end is always near." - The Doors "Roadhouse Blues".