The Note: It's The Stupid Economy

— -- WASHINGTON, July 7

With us today:

President Bush trying to get credit for strength in the economy; Dr./Sen./Leader Frist hot out of the gate (by press release) celebrating weaker-than-expected job numbers; Tom DeLay fighting with Texas Democrats and the judiciary; Joe Lieberman coming more in sadness than in anger (ok: we saw a little anger); Paul Krugman as Cassandra; Hillary Clinton making a key, "secret" political trip; Pat Fitzgerald putting Chicago wrongdoers in the can; Joe Biden's brain-mouth coordination being called into question; John McCain's temperament being called into question; terror tapes, terror plots, terror anniversaries; Dan Bartlett explaining the White House's media strategy to the New York Times; Bill Clinton and Colin Powell in Aspen; no one knowing what the Chinese or North Koreans are thinking, or what they will do; Robert Pear writing on Medicare; and people still not knowing what Ron Fournier's new job is.

In other words, a business-as-usual Friday. Nothing new. Same old same old.

Here, on the other hand, are two new things:

1. President Bush holds a road-show press conference in the Windy City today. At the Museum of Science and Industry, the President is expected to make a 10:50 am ET opening statement (probably trumpeting the mixed jobs numbers released this morning -- see more below) before opening up to questions from a local and national press corps.

ABC News' Karen Travers reports, "The White House said that the press conference is part of an effort to listen to people in other parts of the country and put the President in new venues before the public."

"One White House official described this as a chance for the President to 'sink his teeth into the community' and an 'opportunity to cover many subjects in one area.' This official said that the President enjoys having time in one city or area where he can meet with people and 'dive into issues and see different venues.' The White House has been thinking of doing this for some time and will try to do more of these types of trips throughout the summer," adds Travers.

More Travers: "This is President Bush's 28th full press conference and only the second one held away from the White House." (The other away game was at the G8 summit at Sea Island GA on June 10, 2004.)

The AP's Jennifer Loven has more on the road show strategy with the goals of improving his own ratings and Republican candidates' chances in the upcoming midterm elections. LINK

2. The Note (finally) becomes a seven day/week franchise this weekend. Beginning tomorrow, The Weekend Note will keep you fully informed on all the political goings on and make sure you don't miss a beat. So get ready, Time and Newsweek publicists, Hamptons hostesses, boaters, tennis players, golfers, parents of small children, BlackBerry possessors, weekend assignment editors and anchors, and David Remnick: your worlds are about to change, forever. Or, at least, until the Internet goes out of business.

As for the non-North Korea political news that will dominate the day: ABC News' Dan Arnall reports, "The Bureau of Labor Statistics reported that employers added 121,000 new workers to their payrolls during June. This was lower than the expected monthly jobs growth of 168,000."

"The nation's unemployment rate remains unchanged at 4.6% - a relatively low level by historic standards."

(Enough there to spin to your partisan hearts' desire.)

"The Democrats would rather talk down the economy with the hopes of winning in November so they can raise taxes and skyrocket spending. House Republicans are committed to cutting spending and making the tax relief permanent so that American families will have more money in their pockets and businesses can hire more workers," said Speaker Hastert in a prepared written statement.

President Bush breakfasted with business leaders this morning and after the press conference heads to The Drake Hotel (LINK

) to help Judy Baar Topinka raise some money for her gubernatorial campaign. At 3:00 pm ET, President Bush tours Cabot Microelectronics in Aurora, IL to hammer home the economic/competitiveness message of the day before heading back to Washington, DC.

Vice President Cheney delivers remarks at a rally for Expeditionary Strike Group 8 in Norfolk, VA at 3:15 pm ET.

House Republicans continue their immigration field hearings today in Laredo, TX at 11:00 am ET entitled "Border Vulnerabilities and International Terrorism, Part II."

Texas Democratic Reps. Reyes, Hinojosa, and Gonzalez pre-spond to the event with a 10:30 am ET press availability aimed at highlighting what they see as the Bush Administration and Republican failures to secure the border.

At 1:00 pm ET, Gov. Schwarzenegger (R-CA) joins actresses of the hit movie "High School Musical," "American Idol" judge Randy Jackson, Earth, Wind and Fire singer Philip Bailey, and other distinguished guests to highlight an investment to restore arts and music education funding for public schools at Hamilton High School in Los Angeles, CA.

In San Francisco today, Sen. Hillary Clinton joins Phil Angelides, Sen. Barbara Boxer, and San Francisco Mayor Gavin Newsom for a 12:15 pm ET media availability in support of Angelides gubernatorial bid. Sen. Clinton heads to Denver, CO later today for a fundraiser at a private residence for her reelection campaign.

Sen. Bayh is in Johnston, Clinton, and Davenport, IA today raising funds for local candidates and taping an interview on Iowa Public Television.

Former Sen. John Edwards (D-NC) is in Cedar Rapids and Indianola, IA today raising funds for local candidates and discussing predatory lending.

Gov. Romney (R-MA) attends a fundraiser for gubernatorial hopeful Asa Hutchinson (R-AR) in St. Louis, MO at 12:40 pm ET. At 7:30 pm ET, Romney attends a fundraiser for Rep. Roy Blunt (R-MO) in Springfield, MO. Both fundraisers are closed press.

Don't miss "This Week with George Stephanopoulos" on Sunday when George sits down with the Senate Foreign Relations Committee Chairman Richard Lugar (R-IN) to discuss the North Korean missile tests, the Bush Administration's response, and what he sees as the best path forward to a resolution.

Also on "This Week," George heads on the road with Sen. Allen and his Democratic opponent Jim Webb to size up the Virginia Senate race that may prove more competitive than many people expected.

Can't wait until Sunday? You can always check out the "This Week All Week" webcast here, including Jessica Yellin on North Korea and Mark Halperin on frontrunners McCain and Clinton stepping forward: LINK

Check out our look at the weekend in politics below.

Bush Administration agenda:
The Chicago Tribune's Rick Pearson reports on President Bush's extended visit to Chicago and the "new White House outreach strategy aimed at carrying his message beyond the Washington Beltway by spending more time in communities he visits." LINK

The New York Times' Sheryl Gay Stolberg sees the new approach as an opportunity for President Bush "to do what he does best: act like a candidate, though one who is not running for anything." LINK