WASHINGTON (AP) -- President Barack Obama is promising a major investment in research and development, with the goal of spending 3 percent of the nation's gross domestic product on scientific innovation.
Obama will make the announcement in a speech Monday at the annual meeting of the National Academy of Sciences.
The president says 3 percent of GDP would represent the largest commitment to scientific research and innovation in U.S. history.
He says it is time for America to lead again in the area of research and development.
The White House released excerpts of the president's remarks in advance of the speech.
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