Obama Wants U.S. to 'Win the Future'

Acknowledging the rising economic competition from nations like China and India, President Obama encouraged American innovators and entrepreneurs to adapt to a 21st century economy and "win the future."

"The future is ours to win. But to get there, we can't just stand still.As Robert Kennedy told us, 'The future is not a gift. It is an achievement.' Sustaining the American Dream has never been about standing pat. It has required each generation to sacrifice, and struggle, and meet the demands of a new age.

"Now it's our turn. We know what it takes to compete for the jobs and industries of our time. We need to out-innovate, out-educate, and out-build the rest of the world. We have to make America the best place on Earth to do business. We need to take responsibility for our deficit, and reform our government. That's how our people will prosper.That's how we'll win the future. And tonight, I'd like to talk about how we get there.

"The first step in winning the future is encouraging American innovation," Obama said, pausing for a short bipartisan standing ovation.