In an appearance at a private home, he said what his administration had "tried to do to lay this foundation for long-term economic growth is to put our investments in those things that are really going to make us more competitive over the long term."
"So we have made the largest investment in research and development, in basic research and science, in our history, because that's going to determine whether we can compete with China and India and Germany over the long term," he said.
Today people around the world "still want to be the United States of America," he said, "as we still have a huge competitive edge and we've got the best workers in the world. And we've got the most dynamic economy in the world. We've got the best universities, the best entrepreneurs in the world." he added.