President Barack Obama said that the rules have changed in the global competition for jobs and said the U.S. must adapt by make investments for innovation and infrastructure.

We are the nation that put cars in driveways and computers in offices; the nation of Edison and the Wright brothers; of Google and Facebook. In America, innovation doesn't just change our lives. It's how we make a living, he said.

Obama called for investments in biomedical research, information technology, and clean energy technology.

It's an investment that will strengthen our security, protect our planet, and create countless new jobs for our people, he said.

He said government's help was needed, as he made his argument for spending in those areas.

Our free enterprise system is what drives innovation. But because it's not always profitable for companies to invest in basic research, throughout history our government has provided cutting-edge scientists and inventors with the support that they need, he said.

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