The Hill News

Mississippi Gov. Haley Barbour (R) will sharply criticize President Obama on economic policy Monday, citing “explosive spending” and “out-of-control regulations.”

In a speech at the Chicagoland Chamber of Commerce, Barbour, who is weighing running for president in 2012, will criticize the administration's policies on energy and taxes and its healthcare reform overhaul.

"Explosive spending, skyrocketing deficits, gargantuan debt, calls for record tax increases, government-run healthcare, out-of-control regulations and anti-growth energy policy," Barbour will say in describing the administration, according to The Associated Press.

Barbour will say the Obama administration has increased the debt rather than reduced it.

"The policies embraced by this White House show little understanding of how our economy actually works," Barbour will say.

Additionally, Barbour will argue that Obama has ignored important problems! facing the country, like the costs of Social Security, Medicare and Medicaid.

Barbour will also contrast Obama's record with his own as governor of Mississippi.

"We still have more to do in Mississippi. But we have made great progress and are laying a foundation for the future," Barbour will say.

The speech in Obama's hometown is one signal he could be planning to jump into the 2012 presidential race. Barbour has been a frequent critic of the Obama administration and Democratic policies, but Monday's speech is a more direct assault.