During Bement's tenure as NSF director, he oversaw the foundation's annual budget of more than $7 billion that supports the research and education of roughly 200,000 scientists, engineers, educators and students across the United States. As part of the White House's American Competitiveness Initiative in 2006, he guided initiatives that supported the training of the U.S. work force to operate in a high-tech global economy.

"With the submission of his 2011 budget, President Obama has underscored again the critical role that the National Science Foundation plays in ensuring our Nation's continuing preeminence in science and technology," said John P. Holdren, assistant to the president for science and technology and director, Office of Science and Technology Policy. "I want to thank Dr. Bement for his nearly seven years of distinguished service at NSF's helm and his unwavering commitment to America's research and education enterprise."