The Obama described "innovation strategy" for U.S. job growth Friday, emphasizing federal financial investments at a time when Republicans are calling for deep budget cuts.
The project is a State of the Union in which Obama called on the United States "was to innovate outside of education, and would build the rest of the world."
Although this topic is not new for Mr. Obama, the White House has moved to the forefront as the president seeks to follow in economic policy after the stimulus bill and tax cuts during his first two years in office. The measure also comes as Obama has been trying to rebuild trust with U.S. companies.
The rapid growth of the economy in late 2010. Five keys to what is coming.
His pitch: The economy will prosper if the industry and government work together to improve the business climate, manufacturing and advanced research.
The strategy consists of three main parts:
• Invest in "building blocks" of innovation, such as education, basic science research and transportation and communication infrastructure.
• Promote innovative market through measures such as tax incentives and streamlining the patent system.
• "To catalyze progress" in some industries that the administration considers fundamental: the ability to clean energy, nanotechnology, biotechnology, and space.
The ultimate goal is the most controversial because the government could move stronger in the role of "picking winners" in the private sector, pushing funds into emerging sectors.
Elements of the strategy Obama appeals to many business leaders and economists say the federal government has a long history of helping to lay the foundation for innovation and employment. But corporate America is also concerned about high federal deficits - and if out of control spending will decrease U.S. competitiveness.
Republicans, newly ascendant in Congress have seized the fiscal challenge as their emphasis. Although Obama has made this innovation week (headed on Monday for a new beginning America "initiative), which released details of a spending plan depth of cut.
Many Republicans hope to reverse the discretionary federal spending to 2008 levels, arguing that barring federal debt is the best way to restore the spirit of job creation in the private sector employers.
The battle is partly due to different economic views, but also reflects positioning for the 2012 elections. Polls show that a public eager, supportive government policies that could help create jobs, but also eager to halt the rapid increase in national debt.
Obama's position is that fiscal restraint is necessary, but should be imposed gradually as the economy recovers. Investing in innovation, government officials say, will come in the context of a discipline plan, the long-term budget.
Republican spending cuts in the budget year would fall into some of the same broad categories that Obama hopes to target for investment: transport, energy, science and education.
Unveiling a report on the innovation strategy in a news conference Friday, Obama economic adviser Gene Sperling said the policies would create jobs in the present and the future. A federal commitment to promote clean energy industries and said, sends a signal to potential job creators "who have cash on the sidelines."
Obama plans budget, which will be released on February 14 will not ignore the parallel need to "put our fiscal house in order," said Mr Sperling.
The latest national employment figures, released Friday, offered a mixed message about the economy. Although few jobs in the private sector were created in January, according to a survey of employers, the U.S. unemployment rate was reduced to 9 percent.
Even with the improvement in the unemployment rate, the Labor Department added nearly 14 million Americans unemployed. The budget deficit, meanwhile, is also daunting: $ 1.5 billion this year, according to a recent estimate of the Congressional Budget Office.
Next week, Obama intends to continue its theme of innovation with a visit to Marquette, Michigan, to promote the improvement of wireless services that could help exporters and other businesses. Obama's goal is for high-speed wireless service that is accessible to 98 percent of Americans over five years.
The rapid growth of the economy in late 2010. Five keys to what is coming.
The project is a State of the Union in which Obama called on the United States "was to innovate outside of education, and would build the rest of the world."
Although this topic is not new for Mr. Obama, the White House has moved to the forefront as the president seeks to follow in economic policy after the stimulus bill and tax cuts during his first two years in office. The measure also comes as Obama has been trying to rebuild trust with U.S. companies.
The rapid growth of the economy in late 2010. Five keys to what is coming.
His pitch: The economy will prosper if the industry and government work together to improve the business climate, manufacturing and advanced research.
The strategy consists of three main parts:
• Invest in "building blocks" of innovation, such as education, basic science research and transportation and communication infrastructure.
• Promote innovative market through measures such as tax incentives and streamlining the patent system.
• "To catalyze progress" in some industries that the administration considers fundamental: the ability to clean energy, nanotechnology, biotechnology, and space.
The ultimate goal is the most controversial because the government could move stronger in the role of "picking winners" in the private sector, pushing funds into emerging sectors.
Elements of the strategy Obama appeals to many business leaders and economists say the federal government has a long history of helping to lay the foundation for innovation and employment. But corporate America is also concerned about high federal deficits - and if out of control spending will decrease U.S. competitiveness.
Republicans, newly ascendant in Congress have seized the fiscal challenge as their emphasis. Although Obama has made this innovation week (headed on Monday for a new beginning America "initiative), which released details of a spending plan depth of cut.
Many Republicans hope to reverse the discretionary federal spending to 2008 levels, arguing that barring federal debt is the best way to restore the spirit of job creation in the private sector employers.
The battle is partly due to different economic views, but also reflects positioning for the 2012 elections. Polls show that a public eager, supportive government policies that could help create jobs, but also eager to halt the rapid increase in national debt.
Obama's position is that fiscal restraint is necessary, but should be imposed gradually as the economy recovers. Investing in innovation, government officials say, will come in the context of a discipline plan, the long-term budget.
Republican spending cuts in the budget year would fall into some of the same broad categories that Obama hopes to target for investment: transport, energy, science and education.
Unveiling a report on the innovation strategy in a news conference Friday, Obama economic adviser Gene Sperling said the policies would create jobs in the present and the future. A federal commitment to promote clean energy industries and said, sends a signal to potential job creators "who have cash on the sidelines."
Obama plans budget, which will be released on February 14 will not ignore the parallel need to "put our fiscal house in order," said Mr Sperling.
The latest national employment figures, released Friday, offered a mixed message about the economy. Although few jobs in the private sector were created in January, according to a survey of employers, the U.S. unemployment rate was reduced to 9 percent.
Even with the improvement in the unemployment rate, the Labor Department added nearly 14 million Americans unemployed. The budget deficit, meanwhile, is also daunting: $ 1.5 billion this year, according to a recent estimate of the Congressional Budget Office.
Next week, Obama intends to continue its theme of innovation with a visit to Marquette, Michigan, to promote the improvement of wireless services that could help exporters and other businesses. Obama's goal is for high-speed wireless service that is accessible to 98 percent of Americans over five years.
The rapid growth of the economy in late 2010. Five keys to what is coming.
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