Obama on Facebook - a prelude to fundraising on West Coast

08:27, April 21, 2011      

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U.S. President Barack Obama on Wednesday visited Facebook headquarters in Palo Alto, California for a live webcast session on his economy and jobs initiatives.

U.S. President Barack Obama attends a town-hall meeting at Facebook headquarters with CEO Mark Zuckerberg in Palo Alto, April 20, 2011. (Xinhua/Reuters Photo)

In the town-hall styled session, named "Shared Responsibility and Shared Prosperity," Obama discussed his vision for bring down the country's deficit with Facebook CEO Mark Zuckerberg, COO Sheryl Sandberg and Facebook users who submit questions on-line.

The U.S. president intends to use the event to deliver his message that the partisan budget dispute should be resolved with a combination of spending cuts and tax increases on the wealthy, a concept he calls "shared responsibility."

Obama said the sluggish housing market is probably the biggest drag on the U.S. economy when he answered a question about the challenges faced by those with low and moderate income in getting home loans.

The president also urges supporters of immigration "reform" to make their voices heard, in response to a question on the "DREAM Act," a legislative proposal to provide conditional permanent residency to certain illegal and deportable alien students. A Senate filibuster blocked the act last December.

Obama said his biggest regret so far is how he handled health reform and described the Republican's plan to cut Medicare and Medicaid as "shortsighted." He said he expected to do better in immigration, education and new energy approaches in the reminder of term.

After the final question, Zuckerberg gave a Facebook hoodie to the president as a present.

The event is part of Facebook's fast-growing program of " Facebook Live," featuring live-streamed videos on Q&As with celebrities. Zuckerberg made his Facebook Live debut with his interview with former President George W. Bush in November.

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