Palo Alto, California (CNN) - President Barack Obama isn't just in the news Wednesday. He'll also be in your news feed.

The White House is holding a "town hall" at Facebook headquarters, where the president is expected to answer questions before a small audience about the economy and the federal deficit. The event also will be broadcast live online to Facebook's more than 500 million users, starting at 1:45 p.m. PT (4:45 p.m. ET).