Ok, I figured out what my problem was. I was importing my footage (720×480 DV captured) from my editing program into AE and it would open up as a 720×480 comp. I went to composition settings and the setting was 720×480 but it looked narrower than my original footage. So I took a frame from the original DV Capture footage and opened it up in Photoshop and noticed that it was 853×480. So I went into my Comp Settings and unchecked the “lock aspect ratio box” and change it from 720 to 853×480 hit ok. That resized the comp, now there were black bars on the sides of my footage which AE had crunched down to 720. Then I rightclicked on the footage in the timeline, choose transform – fit to comp size. Bingo, 853×480 aspect Ratio.