There is one serious flaw with your proposed strategy, Politico. It assumes the August jobs report will be bad for Obama.
500,000 jobs are not going to appear out of the blue. It's going to be dismal or really dismal. Even if it is a slight improvement over last month, it is still not enough to keep pace with population growth.
A slight improvement is all Obama needs to be fairly assured of victory. For all the talk of how unemployment remains over 8%, that's not the case in all of the the swing states:
Colorado: 8.3%
Florida: 8.8%
Iowa: 5.3%
New Hampshire: 5.4%
Ohio: 7.2%
Wisconsin: 7.3%
Virginia: 5.9%
Nevada: 12.0%
Both Florida and Nevada (and to a lesser extent Colorado) know full well that their economic problems stem from the unsustainable housing bubble that burst under Bush's watch. They weren't going to rebound quickly no matter who was President, tho not all voters would be aware of that.
Virginia's economy is doing reasonably well, which is why Obama is likely to win that swing state.