President Obama Speaks with Business Roundtable

Yesterday, President Obama gave a speech to the Business Roundtable.  He spoke of common concerns and challanged the group to work with him to overcome their differences.  He also spoke about the need for innovation and education--below is a section of the speech that deals with competitiveness issues.

 

Instead, we need to build an economy where we borrow less and produce more. We need an economy where we generate more jobs here at home and send more products overseas. We need to invest and nurture the industries of the future, and we need to train our workers to compete for those jobs.

Nations around the world, from Asia to Europe, have already realized this. They're putting more emphasis on math and science. They're building high-speed railroads and expanding broadband access. They're making serious investments in clean energy because they want those jobs.

These countries know what's required to compete in the 21st century. But so do we. And as I said in the State of the Union, I do not accept second place for the United States of America.

We did not achieve global leadership in the last century by luck or happenstance. We earned it by working together to define our own destiny and seize the future. And to maintain our leadership in this new century, we must summon that same resolve.

Second, only government can make those investments in common goods that serve the general welfare but are too expensive for any individual or firm to buy on their own. Our Armed Forces is the most obvious example. But government has also built infrastructure – roads and ports; railways and highways that enabled commerce and spurred entire industries. Government has invested in basic research that led to new crop yields for farmers and the Internet. Government has invested in our people, through land grant colleges and the GI Bill.

I believe it starts with investments in innovation, education, and a 21st century infrastructure. To build the infrastructure of tomorrow, we're investing in expanded broadband access, health information technology, clean energy facilities, and the first high-speed rail network in America.

To spur the discovery of services, products, and industries we have yet to imagine, we are devoting more than three percent of our GDP to research and development – an amount that exceeds the level achieved at the height of the Space Race. We've also proposed making the research and experimentation tax credit permanent – a tax credit that helps companies like yours afford the high costs of developing new technologies and new products.

To train our workers for the jobs of tomorrow, we've made education reform a top priority in this administration. Last year, we launched a national competition to improve our schools based on a simple idea: instead of funding the status quo, we only invest in reform – reform that raises student achievement, inspires students to excel in math and science, and turns around failing schools that steal the future of too many young Americans. I just met with the nation's governors this week, and education reform is one of those rare issues where both Democrats and Republicans are enthusiastic.

Finally, we're investing in innovation that will lead to a more efficient, affordable, and consumer-friendly federal government. Many of you have harnessed new technologies to build thriving businesses and provide better services to your customers. There's no reason government shouldn't do the same, and give taxpayers a better bang for their buck.

With new technology, we're creating a single electronic medical record for our men and women in uniform that will follow them from the day they enlist until they day they are laid to rest. We're cutting down the time it takes to get a patent approved by cutting out unnecessary paperwork and modernizing the process. We're working to give people the chance to go online and book an appointment at the Social Security office or check the status of their citizenship application – services countless businesses already provide.

In all of these areas – infrastructure, research, education, and government reform – we are making investments that will lead to new products and services that will help America compete on the world stage.

Finally, we're investing in innovation that will lead to a more efficient, affordable, and consumer-friendly federal government. Many of you have harnessed new technologies to build thriving businesses and provide better services to your customers. There's no reason government shouldn't do the same, and give taxpayers a better bang for their buck.

With new technology, we're creating a single electronic medical record for our men and women in uniform that will follow them from the day they enlist until they day they are laid to rest. We're cutting down the time it takes to get a patent approved by cutting out unnecessary paperwork and modernizing the process. We're working to give people the chance to go online and book an appointment at the Social Security office or check the status of their citizenship application – services countless businesses already provide.

In all of these areas – infrastructure, research, education, and government reform – we are making investments that will lead to new products and services that will help America compete on the world stage.