Federal budget 2011: Live chat Tuesday

Veteran CBC journalists and political commentators took part in a live online chat Tuesday about the budget - and what it means for the direction of Prime Minister Stephen Harper's government.

Guests included CBC's National Affairs editor Chris Hall, Inside Politics blogger Kady O'Malley, Power & Politics host Evan Solomon, and senior political analyst Greg Weston. Online political reporter Meagan Fitzpatrick hosted the discussion, which included many readers' comments and questions.

You can watch a replay of the chat in the widget above. Here are some of the highlights:

12:05 p.m. ET: Chris Hall and Greg Weston kick off the chat by discussing the upcoming spending cuts and how the government could reduce the deficit.

12:24 p.m. ET: Greg Weston explains why there's so much concern over debt levels: "If interest rates return to more traditional levels as they surely will, those costs will obviously soar. Interest costs are projected to increase by almost $10 billion in the next five years. That's $10 billion that is either lost for programs such as health care, or money that has to be raised through higher taxes."

12:31 p.m. ET: The conversation shifts towards the Conservatives' plan to eliminate the per-vote subsidy for political parties. It's an issue that has struck a chord with many readers. "As a [Green Party] supporter, the per-vote subsidy was my only incentive for voting," wrote Ken S from Ramara. "Without this subsidy I have no reason to vote!"

12:45 p.m. ET: The chat opens up and readers weigh in on everything from tax credits to the Canadian Wheat Board. Kady O'Malley and Evan Solomon and field commenters' questions and offer their insights.