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the beltway 

When a belt is too tight on a fat person. The belt creates a valley between the belly and the groin
The beltway on Charlie Weis is spectacular compared to Bill Parcell.
the beltway by Kyle Turley October 14, 2006

inside the beltway 

A politician, lobbyist, or other person who is politically isolated from the rest of the country, due to the royal court type environment of Washington, DC. Refers to I-495, the beltway around Washington, DC.

Could also mean someone who literally lives inside I-495, either in Washington, DC proper or one of the inner suburbs (Arlington, Alexandria, Falls Church City, Bethesda, Chevy Chase, etc)
These inside the beltway fatcats have lost touch with the values of the average american family!
inside the beltway by arlingtonlifer September 25, 2007