Obama takes questions on taxes, spending, Chicago sports on Twitter

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President Barack Obama participated in a question and answer session on Twitter, responding to queries about the fiscal cliff negotiations, taxes and spending cuts, and of course, Chicago sports.

Obama used the online event to highlight the hashtag, #My2k, which the administration has been promoting as a way to pressure Congress to come to an agreement on the set of tax increases and spending cuts set to go into effect on January 1.

Read the conversation below:

Good to see lots of folks on twitter speaking out on extending middle class tax cuts. I'll answer some Qs on that at 2ET. Ask w/ #My2k –bo

— The White House (@whitehouse) December 3, 2012

hey guys - this is barack.ready to answer your questions on fiscal cliff & #my2k.Let's get started. -bo

— The White House (@whitehouse) December 3, 2012

Mr. President, can you assure us that any "fiscal cliff" negotiations regarding entitlement reform will not hurt the most needy? #My2K

— Phillip M. McKenzie (@pmmckenzie) December 3, 2012

.@pmmckenzie we can reduce deficit in balanced way by ending tax cuts for top 2% + reforms that strengthen safety net & invest in future -bo

— The White House (@whitehouse) December 3, 2012

Mr. President, why won't keeping tax rates low across the board encourage more hires and therefore more tax revenue? #my2k

— Mike Vanderwyst (@mike5673) December 3, 2012

.@mike5673 high end tax cuts do least for economic growth & cost almost $1T. extending middle class cuts boosts consumer demand & growth -bo

— The White House (@whitehouse) December 3, 2012

@barackobama #My2k As a recent college grad w/o a full time job, these cuts wouldn't help me, would they?

— Mandi (@dontbeaprat) December 3, 2012

.@dontbeaprat cuts w/out revenue = reductions in student loans; work/study & college tax credits expire. Bad for growth. like your hair! -bo

— The White House (@whitehouse) December 3, 2012

@whitehouse what is your opposition to taking away deductions for the 2% rather than up the rate? Seems like a reasonable compromise #My2K

— Hunter (@huntertred) December 3, 2012

.@huntertred not enough revenue, unless you end charitable deductions, etc. less revenue=more cuts in education etc wh.gov/5rTh -bo

— The White House (@whitehouse) December 3, 2012

@barackobama Mr. President, Why not place more emphasis on reducing government spending, than on raising revenues? #My2K #WHChat

— David Osteen (@davidosteen) December 3, 2012

.@davidosteen (part 1) already cut $1T+ in gov spending last yr. Discretionary spending lowest as % of GDP since ike. #my2k

— The White House (@whitehouse) December 3, 2012

.@davidosteen (part 2) Open to more smart cuts but not in areas like R&D, edu that help growth & jobs, or hurt vulnerable (eg disabled) - bo

— The White House (@whitehouse) December 3, 2012

As a home owner, I worry deductions for home owners are at risk. Is that the case? #My2k

— Emma Robertson (@soitgoesem) December 3, 2012

.@soitgoesem breaks for middle class impt for families & econ. if top rates don't go up, danger that middle class deductions get hit - bo

— The White House (@whitehouse) December 3, 2012

@whitehouse Is there a minimum ratio of revenue increases to spending cuts that you're looking for, or simply a balanced approach? #my2k

— Jason Feinman (@jjfein) December 3, 2012

.@jjfein don't expect 100% my budget; room to negotiate. if you incl $1T+ in cuts already made, rough balance b/w rev & cuts does trick -bo

— The White House (@whitehouse) December 3, 2012

Who will win it all first: Chicago #WhiteSox, #Bulls, or #Bears? #NFL #NBA #MLB cc: #My2k @barackobama @whitehouse

— Mica (@Mica4Life) December 3, 2012

.@mica4life da bears still gotta shot, despite sad loss this weekend! plus rose will return for playoffs!!! -bo

— The White House (@whitehouse) December 3, 2012

Gotta go.Thx.Keep pressure on Congress. Call, email, tweet your Member & tell them what 2k means to you. Lets get it done. #my2k -bo

— The White House (@whitehouse) December 3, 2012

Photo of Pres Obama's hands typing #My2k answers @ whitehouse: twitter.com/petesouza/stat…

— petesouza (@petesouza) December 3, 2012