Analysis: Obama's 'blame me' means 'move on'

President Obama topped a town hall appearance Wednesday by claiming responsibility for the bonuses paid out to executives at the bailed-out insurance giant American International Group, saying, "I'm outraged, too."

Cushioned by high approval ratings, analysts said Obama can emerge from this controversy relatively unscathed, but there's only so many times he can get away with saying, "Blame me."

AIG accepted more than $170 billion in federal assistance in the past six months. It was revealed this week that since accepting those funds, the company doled out more than $165 million in bonuses.

In the stimulus bill passed last month, Congress had an opportunity to put a stop on those mega-bonuses. But, in a last-minute adjustment, the language of the legislation was changed, allowing AIG to go ahead with its controversial bonuses.

Sen. Christopher Dodd, chairman of the Senate Banking Committee, told CNN on Wednesday that he was partially responsible for adding the loophole after coming under pressure from the Treasury Department. At the time, he said, the changes "seemed like innocent modifications." Watch what Dodd says about his role »

"I know Washington's all in a tizzy and everybody's pointing fingers at each other and saying it's their fault, the Democrats' fault, the Republicans' fault. Listen, I will take responsibility. I'm the president," Obama said Wednesday at the town hall meeting in Costa Mesa, California.

But the president's mea culpa wasn't all encompassing.