Obama Pledges 3 Percent of GDP for Research

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President Barack Obama on Monday announced a goal of ensuring 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 research and development in American 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 contributions from the private sector.

(More to come.)

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