Will 2012 Election be a referendum on how well Obama can blame USA's economic problems on someone else?

Will 2012 Election be a referendum on how well Obama can blame USA's economic problems on someone else and avoid taking responsibility for the inefficient job creation of a $787 Billion Stimulus, a Job Killing Obamacare monstrousity, EPA and NLRB persecution of successful small businesses, Dodd-Frank law written by the most corrupt members of congress and designed to prevent honest businesses from accessing credit while continuing to allow Fannie Mae to bleed tax-payer money.