Yesterday, President Barack Obama hosted a Twitter town hall meeting to answer questions regarding the fiscal cliff and to inform the public about its impact. Using the hashtag #My2k, the President encouraged citizens to raise their voices in the debate.

The Q&A session was held in light of the Obama Administration’s efforts to extend the Bush tax cuts for those making $250,000 or less. The White House is estimating an automatic tax hike by up to $2,200 for a middle-class family of four if no deal is reached by January 1st, reports MSNBC

“Hey guys – this is Barack. Ready to answer your questions on fiscal cliff & #my2k. Let’s get started,” the President tweeted. 

One of the first questions came from @dontbeaprat, who asked how the cuts will affect her as a recent college grad. The President responded: “Cuts w/out revenue = reductions in student loans; work/study & college tax credits expire. Bad for growth.”

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Another question came from @davidosteen who asked why the President doesn’t place more emphasis on reducing government spending. President Obama responded: “Already cut $1T+ in gov spending last yr. Discretionary spending lowest as % of GDP since Ike.” He added he is also open to more smart cuts, but not in areas like research and development and education that help growth and jobs.

The President answered eight questions during his 45 minutes online and signed off on each of his messages with his standard, “-bo.” The White house also uploaded a photo of him typing to ensure Americans the answers were indeed coming from the President himself. 

For a full transcript of the discussion, check out the White House’s Storify here