TWITTER TOWN HALL: The complete transcript of Barack Obama and Jack Dorsey's exchange.

QUOTE OF THE DAY: "If all we do is just go back to the pre-Bush tax cut rates for the top income brackets, for millionaires and billionaires, that would raise hundreds of billions of dollars.  And if you combine it with the cuts we’ve already proposed, we could solve our deficit and our debt problems." - Obama, in response to: ""So will you raise taxes on the middle class at least to President George W. Bush levels?"

ETHAN KLAPPER on the problem with the Twitter aspect. "But there was a problem with the Twitter aspect of the town hall -- it went in one direction, which goes against the point of Twitter. Not only did the President not type in his answers, they were much longer than the 140 characters Twitterers use to communicate."