updated 3/9/2009 1:07:51 PM ET 2009-03-09T17:07:51

Happy Friday!

Hello everybody and welcome to the Shuster daily briefing for March 6, 2009. Get those TV trays ready! We have a terrific show in the works for tonight. The big news is not entirely unexpected. The Labor Department reported this morning that unemployment rose to 8.1%. Some analysts think it could reach 10% if the recession continues until 2010.

We will start our show with the latest from President Obama on the awful report. The President spent part of his day promoting the benefits of the $787 billion stimulus package he signed a few weeks ago. He spoke to a group of police officers whose jobs were saved by the measure.  Video

By the way, there is every indication that the job market is going to get even worse before it improves.

The Wall Street Journal broke the story this morning: two of Treasury Secretary Tim Geithner's picks for top jobs have withdrawn their names from consideration. According to the Journal, they withdrew in part because of "the long vetting process, which had dragged on for weeks and included several rounds of intense questioning."

In our 2nd block, we will look at the growing debate over executive compensation. One Wall Street executive is defending the compensation scheme for traders in New York, even arguing that his bonus wasn't big enough!

In hypocrisy watch, Karl Rove is now criticizing the White House for hitting back at Rush Limbaugh. Rove said, "This is the same old style politics that we grew to really dislike the in the 1990's, when the White House thought everything through from a political perspective." Convenient of him to forget the Bush 43 years? Plus, speaking of the ‘90s, Karl Rove was engaged in slash and burn tactics back then.

Later, Newsweek's Michael Isikoff will join us to talk about the real story behind the deal brokered for Karl Rove's testimony to Congress. Lawmakers want to hear what Rove says about the firing of those U.S. attorneys. But, they also can't wait to look through dozens of boxes of documents.

In our back half panel, one of our guests tonight, David Frum, wrote earlier this week about the dangers for conservatives of having Rush Limbaugh as their leader. Frum closes by arguing, "we have to find ways of assuring the public that he is just one Republican voice among many, and very far from the most important." Frum will help us score the week for the GOP and for the White House. Joining Frum on the panel will be AB Stoddard and Michael Crowley.

Finally, we will take a closer look at Michelle Obama's appearance today on the Oprah Winfrey show. And, we will preview a trip announced by the White House - President Obama is now scheduled to meet in London, in the weeks ahead, with Queen Elizabeth.

Also, we will ask our panel to weigh in on a few of the videos you brought to our attention via twitter. http://www.twitter.com/shuster1600

Our quote of the day is from the Queen:

“It's all to do with the training: you can do a lot if you're properly trained.”

Thanks in advance for watching tonight's show. "1600" airs at 6pm in Washington, D.C.; 5pm in Little Rock; 4pm in Santa Fe; and 3pm in Oakland.

Shuster


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