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President Obama travels to Troy, N.Y. in the morning, where he will tour a technology classroom at Hudson Valley Community College in Troy with Dr. Jill Biden. While at the college, Mr. Obama will also deliver remarks on the economy.

Mr. Obama then will travel to New York City. In the afternoon, he will tape an interview on CBS' "The Late Show" with David Letterman.

Here's the full schedule from the White House (all times Eastern):

9:25AM: President Obama departs The White House en route Andrews Air Force Base

9:45AM: President Obama departs Andrews Air Force Base en route Albany, New York

10:55AM: President Obama arrives in Albany, New York

11:30AM: President Obama and Dr. Jill Biden tour Hudson Valley Community College

11:50AM: President Obama delivers remarks on the economy

1:05PM: President Obama departs Albany en route New York City

1:45PM: President Obama arrives in New York City

3:55PM: President Obama tapes an interview on "The Late Show" with David Letterman

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Sarah Palin has accepted the olive branch handed to her by David Letterman, following his jokes about Palin's daughter getting "knocked up" by a professional baseball player.

In a statement Tuesday, the Alaska governor said she accepted Letterman's apology "on behalf of all young women, like my daughters, who hope men who 'joke' about public displays of sexual exploitation of girls will soon evolve."

Letterman apologized on CBS' "Late Show" Monday night, explaining that his joke from last week targeted Palin's 18-year-old daughter Bristol -- not her 14-year-old daughter Willow, as Palin interpreted. Letterman never mentioned the name of the daughter in the joke.

"The joke, really, in and of itself, can't be defended," he said Monday.

Palin and her husband Todd initially responded forcefully to the joke. Palin called the comments "sexually perverted." On Tuesday, she said Letterman has the right to joke about whatever he pleases and that "thankfully, we have the right to express our reaction."

"This is all thanks to our U.S. military men and women putting their lives on the line for us to secure American's right to free speech," she said. "In this case, may that right be used to promote equality and respect."

Former Republican presidential nominee John McCain appeared on The Late Show with David Letterman last night, where the topic turned, perhaps inevitably, to Illinois Gov. Rod Blagojevich.

"He came to my office one time after he was elected governor, at his request, and told me he was going to be a great reformer," McCain said, laughing. "I'm not making it up! That he wanted to do like I had done in the Senate and have all these reforms. I really must have impressed the guy."

After Letterman asked if Blagojevich was either "stupid," or "nuts," McCain responded: "I think a rare combination of both."

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