Obama vows to increase U.S. research spending to 3 percent of GDP

President Barack Obama on Monday announced a goal of ensuring that 3 percent of the country's gross domestic product is spent on scientific research and development. That amount would represent the largest commitment to scientific R&D in U.S. history, Obama said during a speech at the annual meeting of the National Academy of Sciences. But the president said his goal can only be achieved through a combination of government spending and private-sector initiatives.

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