The struggling economy and high unemployment rate is bringing President Barrack Obama to talk with a small elite group of Silicon Valley business leaders to sound them out on his economic policies.

The President is scheduled to touch down in San Francisco International Airport shortly before 6pm. They are going to have dinner at the Woodside home of Silicon Valley venture capitalist John Doerr.

“The focus of the discussion is innovation and job creation and these are representatives of business who know a lot about private sector job growth,” said White House spokesman Jay Carney.

Twitter CEO Dick Costolo and Facebook CEO Mark Zuckerberg was invited so the President can discuss the role Twitter and Facebook played in the ouster of Egyptian President Hosni Mubarak.

The President will leave the Bay Area on Friday morning and head to Hillsboro, Ore. where Intel CEO Paul Otellini will give him a tour of an under-construction semiconductor plant that will be the worlds most sophisticated chip-fabrication facility.

Talking tech with the likes of Jobs and Zuckerberg is good for the BlackBerry-toting president’s image, said Democratic political consultant Jude Barry.

“Obama is better at embracing Silicon Valley than other elements of American business,” he said. “Americans don’t blame Google and Facebook for losing their homes.”

“He shouldn’t be calling it a job-creation event,”Orson Aguilar said. “It’s insulting. To spend all that money to meet with billionaires in a mansion is not a good use of our taxpayers’ dollars. We’d prefer he was spending time with those who have been suffering from the lingering effects of the economy.”

And the Republican Party of California called the president’s West Coast trip a “re-election campaign photo op.”

“Hearing from people who are actually creating jobs and growing the economy is a good reality check,” Betsy Mullins said. “These events are some of the most important things elected officials can do. You can dive into background when you don’t have a million eyes watching you. It’s a much more comfortable situation.”

Tech Executives Attending:

Carol Bartz, president and CEO, Yahoo

John Chambers, CEO and chairman, Cisco Systems

Dick Costolo, CEO, Twitter

John Doerr, partner, Kleiner Perkins Caufield & Byers

Larry Ellison, co-founder and CEO, Oracle

Reed Hastings, CEO, Netflix

John Hennessy, president, Stanford University

Steve Jobs, chairman and CEO, Apple

Art Levinson, chairman and former CEO, Genentech

Eric Schmidt, chairman and CEO, Google

Steve Westly, managing partner and founder, The Westly Group

Mark Zuckerberg, founder, president, and CEO, Facebook

Stay tuned to T.I.A. after the event for the facts as they happened and what exactly was talked about.

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