Yesterday President Barack Obama spoke before the U.S. Chamber of Commerce.  His speech was similar to a point I made several months ago when  I called upon business leaders in the United States to start spending some of their hoarded $2 trillion in cash to hire new employees and to invest in the country.

Obama said, “Ask yourselves what you can do for America.  Ask yourselves what you can do to hire American workers, to support the American economy, and to invest in this nation.”

From my perspective it looks as if the President is testing out a potential 2012 campaign theme.  Obama is certain to be under fire during his re-election campaign for the very slow economic recovery.  Furthermore, he has already done just about all that can be done from a fiscal policy position.  Yet, the economy remains sluggish.

In my 2011 Predictions I said that I thought he was going to engage in China bashing.  I feel that President Obama has to find some way to deflect and defray criticisms of his Administration’s economic handling.  Initially there seemed to be a building momentum toward blaming China.  But that didn’t have traction with the public of the U.S.  But by calling on the business community of the United States to do their part to help the U.S. economy recover, the President may be laying the foundations for a populist re-election campaign.

If next year the economy is still sluggish, Barack Obama can point back to this speech and the fact that he asked the business community to contribute to the recovery.  Any economic shortfall can then partially be blamed on a disinterested business community.  If he is particularly desperate he can always imply that business leaders are greedy.  Unfortunately for the cabal of U.S businesses they will be dealing with a single, very public, voice.

Right now most of the U.S. public would welcome some public business bashing and would probably respond well to such criticisms of the capitalists.  I will continue to keep you updated on what may be an unfolding campaign strategy on the part of Obama.

Jason