Obama: U.S. is Facing 'Sputnik Moment'

Despite a proposal that cancelled the Constellation program, NASA's now-defunct next plan to create a heavy-lift rocket, President Obama used the launch of the Soviet satellite, Sputnik, in the 1950s that led to the creation of NASA and American space travel as a rhetorical device to talk about the need to reignite the economy.

"Half a century ago, when the Soviets beat us into space with the launch of a satellite called Sputnik, we had no idea how we'd beat them to the moon. The science wasn't there yet. NASA didn't even exist.But after investing in better research and education, we didn't just surpass the Soviets, we unleashed a wave of innovation that created new industries and millions of new jobs.

"This is our generation's Sputnik moment. Two years ago, I said that we needed to reach a level of research and development we haven't seen since the height of the space race. In a few weeks, I will be sending a budget to Congress that helps us meet that goal.We'll invest in biomedical research, information technology, and especially clean-energy technology -- an investment that will strengthen our security, protect our planet, and create countless new jobs for our people," Obama said.

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