PALO ALTO (CBS SF) – President Obama is expanding upon his fiscal message this week by answering questions at a virtual town hall hosted live from Facebook’s headquarters in Palo Alto on Wednesday.

President Obama is due to arrive in the Bay Area on Wednesday, and plans to speak to supporters at a fundraising event at the Nob Hill Masonic Center in San Francisco.

The 1:45 p.m. event, which will stream on the White House’s Facebook page, follows the theme of “Shared Responsibility and Shared Prosperity” that Obama laid out in remarks about the budget he delivered last Wednesday at George Washington University.

As of Tuesday morning, nearly 23,000 people had RSVPed to participate in the town hall online. The actual event with Facebook CEO Mark Zuckerberg will not be open to the public.

Last week, Obama said his fiscal plan would reduce the nation’s deficit by a cumulative $4 trillion over 12 years, in part by cutting defense spending, reducing health care costs and eliminating tax breaks for the wealthiest 2 percent of Americans. The federal deficit was $1.3 trillion last year.

Obama said America doesn’t have to choose between “a future of spiraling debt and one where we forfeit our investment in our people and our country.”

The president said limiting itemized deductions for the wealthiest 2 percent of Americans would reduce the deficit by $320 billion over 10 years. He refused to further extend the Bush-era tax cuts for the wealthy as long as he is president.

“I say that at a time when the tax burden on the wealthy is at its lowest level in half a century, the most fortunate among us can afford to pay a little more,” Obama said. “I don’t need another tax cut. Warren Buffett doesn’t need another tax cut.”

Questions for the town hall can be submitted up to and during the event at

Two panels focused on women in technology and startups in America – both of which will include opportunities for questions from the audience – will be held after the president’s remarks.

The entire event will be streamed at

(Copyright 2011 by CBSSan Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services may have contributed to this report.)

Comments (7)
  1. Fatibel says:

    I would love to take part in this forum but I work for the DoD and my government-owned computer blocks Facebook. /facepalm

  2. George Kolter says:

    my question to obama why do you continue to ignore us, send us to heck lying to the kids and refusing to be a grown-up?

  3. George Kolter says:

    figured he’d go to San Fran, wonder if Pelosi will be there??? Mr president will be voted out in 12 due to his indifference, guess he wishes to revisit the ”bitter clingers” on billionaires row. why are the rich continually supporting a fool that keeps putting them down? I’d fire this incompetent…..

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