WASHINGTON, Feb. 5 (UPI) -- U.S. President George W. Bush's $2.9 trillion 2008 budget includes $11.4 billion to support U.S. competitiveness worldwide, the White House said Monday.
The 7.1 percent funding increase for the American Competitiveness Initiative supports research and development to "advance knowledge and technological capabilities" in the physical sciences through the National Science Foundation, the Department of Energy, and the Department of Commerce's National Institute of Standards and Technology.
The proposed budget also seeks $1.6 billion to conduct research to understand the earth's natural systems and $1.45 billion for nanotechnology, the science of making products on a molecular scale.
The nanotechnology budget item, a 4.2 percent increase from the 2007 budget, will support "investor-led" research, education and training, along with facilities and networks to support the research, the White House said.
Other items in the proposed budget's commerce category included $80 million to advance ocean science, $38 million to protect and restore sensitive coastal areas and $25 million to "ensure sustainable use of ocean resources."
The spending plan also includes $20 million to curb over-fishing.
