The Note: 41+42-43=44?

— -- WASHINGTON, Jan. 30

She can't sing (Thanks, MSNBC LINK), and she is often accused of dancing and acting too much, and/but. . . Hillary Clinton just might be the next president of the United States.

The RNC knows it. (They hit her on her ethanol gymnastics yesterday -- but do they remember George W. Bush's Des Moines Marriott conversion on the issue in 1999, a moment that made even Howard Fineman blush?)

The White House knows it. (They hit her on her uppity Iraq comments yesterday -- but do they know that the war is politically over?)

The Obama and Edwards campaigns know it. (They are giving an awful lot of thought to how to play this weekend's DNC meeting, as part of an effort to beat her unconventionally and without nearly the same amount of money -- but do they know that running against Mark Penn won't work?)

John McCain knows it. (Look at this "people will say we're in love" photo from yesterday's event in San Antonio LINK -- but does Kevin Madden already have it clipped from the New York Post hard copy and tacked up above his desk?)

The Old Media and New Media know it. (The question might be asked: IS there ANY story about the Clintons that is too minor to get expansive coverage on TV, talk radio, and at Manhattan watercoolers -- but the answer ("NO!!!") is obvious.)

The Bush 43 political team knows it. (But they have bigger fish to fry.)

And now, amazingly, mark your calendars: Bush 41 seems to be showing his hand.

The Union Leader's Mark Hayward reports that former Presidents Bush and Clinton will jointly deliver the commencement address at the University of New Hampshire on May 19. LINK

Read to the end to find out that Professor Scala agrees that this helps Sen. Clinton big time with her biggest problem: "The more Bush-41 and Bill Clinton appear together, the less vulnerable Hillary Clinton is to very vitriolic Republican attacks."

After a day of official business, Sen. Clinton hosts the hot 2008 event of the news cycle when she throws a book party for her Empire State colleague Sen. Chuck Schumer at Hunan Dynasty in Washington, DC. (Perhaps the Schumer household made sure to put out the huge news about Commissioner Weinshall leaving the Bloomberg Administration yesterday so as not to step on Sen. Schumer's book party coverage tomorrow. LINK)

Not to be outdone, President Bush tours Caterpillar, Inc at 12:10 pm ET in Peoria, IL, and then delivers remarks on the economy at 12:40 pm ET. The President plans to showcase the Caterpillar plant as an example of how his Administration's trade agreements and tax breaks can boost global sales and create jobs for American workers.

But the trip to the heartland and the focus on the economy (even with a high-profile network interview with ABC News' Betsy Stark, which you can watch on "World News with Charles Gibson") is not likely to move Iraq off the front burner.

To wit. . . House Speaker Nancy Pelosi (D-CA) and fellow CODEL members hold a 3:00 pm ET press conference where they will share their thoughts and observations from their recent trip to Iraq, Afghanistan, and Pakistan.

The co-chairmen of the Iraq Study Group, James Baker and Lee Hamilton, testify before the Senate Foreign Relations Committee today at 1:00 pm ET. Earlier in the day, Chairman Biden's committee holds hearings on the nomination of John Negroponte to be Deputy Secretary of State.

Sen. Russ Feingold (D-WI) chairs a full Senate Judiciary Committee hearing entitled, "Exercising Congress's Constitutional Power to End a War" at 10:00 am ET.

The House Oversight and Government Reform Committee holds a hearing on Allegations of Political Interference with the Work of Government Climate Change Scientists at 10:00 am ET. In his preview of the investigations to come, ABC News' Jake Tapper reported this morning on "Good Morning America" that "the Democrat who took on Big Tobacco is taking on the White House."

Starting at 9:00 am ET in Dirksen 406, a handful of '08ers are expected to make pitches on climate change when the Senate's Environment and Public Works Committee holds the first congressional hearing of the 110th Congress on the "increasingly sexy topic" of global warming, reports the Washington Post's Paul Kane. LINK.

"At least three of the lawmakers on tap to testify about their own proposals are running for the White House": Sens. Biden, McCain, and Obama. "If that's not enough," Sen. Clinton "is a member of the committee and expected to be on hand for at least some of the hearing -- meaning she would have the chance to question, interrogate and joust with Biden, Obama and McCain about their plans."

ABC News' Jason Ryan reports that former White House press secretary Ari Fleischer's testimony contradicted Scooter Libby's and previews what promises to be a week of high profile witnesses, including today's planned appearance by former New York Times journalist Judith Miller. LINK

The Senate Armed Services Committee with '08ers galore holds a hearing for the nomination of Admiral William Fallon to be commander of U.S. Central Command at 9:30 am ET.

Today is Vice President Cheney's 66th birthday.

Find out what the rest of the presidential field is doing today in our expanded 2008 daybook below.

Politics of Iraq:
Democrats are skeptical of the GOP using all the time available to them on the minimum wage bill, in which case the debate on Iraq resolution(s) will most likely begin at the end of the week at the earliest, per Roll Call trio John Stanton, Emily Pierce and Jennifer Yachnin.

At the New York Times' Caucus blog, Sarah Wheaton writes up the latest VoteVets.org television ad aimed at GOP Senators. LINK

Big Casino budget politics:
The Associated Press' Andrew Taylor writes up the Democratic omnibus bill funding the federal government at 2006 levels under the headline, "Democrats Unveil Massive Spending Bill." LINK

Faced with a Feb. 15 deadline, Democrats put the final touches on a $463.5 billion spending bill designed to keep the government operating for the rest of the fiscal year and bridge the gap left by the collapse of the budget process last fall," reports the Wall Street Journal's David Rogers, in a story we challenge you not to skim.