The fashion industry is on the edge of their seats, waiting to get a peek at what Michelle Obama will wear on Inauguration Day.

But the big reveal may turn out not to be much of a reveal at all. While our guess is as good as any about which designer MObama will wear, we’re predicting the dress will probably be one we’ve seen before.

Michelle has been celebrated in the past, most recently on Election Day, for re-wearing some of her designer duds: A gesture most political pundits and fashion fans view as being particularly savvy in this perilous economic time.

Given that the economy and high unemployment rate have been weak spots of Obama’s campaign and presidency, it’s particularly important for Michelle to present herself in a way that’s sensitive to this issue. During Obama’s re-election campaign, both Barack and Michelle made a point of presenting themselves as middle class success stories, in sharp contrast to billionaire Mitt Romney’s background. Re-wearing a dress is a great way of telegraphing that message and we wouldn’t be at all surprised if Michelle went that route on Inauguration Day.

We hopped on the phone with fashion journalist and Michelle Obama expert Kate Betts, author of Everyday Icon: Michelle Obama and the Power of Style, who thinks that given Mrs. O’s new chop, the First Lady is even more likely to shop her closet on Inauguration Day.  ”She looks really young, and really great!” Betts told us.  ”Maybe she wants people to focus on her hair and not her dress because she is going to repeat a gown she’s already worn.”