Good afternoon. Before we get started, we have a few special guests -- you recognize Austan and Gene -- who are here to talk a little bit about a report...

On Tuesday and Wednesday, the President will attend meetings here at the White House.

In his State of the Union address the President called for a national wireless initiative to help businesses extend the next generation of wireless...

So with that, let me first turn it over to Gene Sperling and then to Austan Goolsbee to talk about today’s report.

Obviously a key aspect will be a significant commitment to research and development. And again, this is -- all has to be done in the context of a budget...

As we discussed before, you’ll see an increase to $8 billion in R&D on clean energy technology. That includes a doubling of his new ARPA-E initiative...

You saw that in the Vice President laying out the electric vehicles goal -- the goal of hitting 1 million advanced technology vehicles by 2015 -- and...

And on the education side, obviously, you’ve heard us talk before about the goal to have 100,000 new STEM teachers -- science, technology, engineering,...

Let me at this point turn it over to Austan, and we will both be around for some questions.

So extending beyond just the public investments, there are three components in the innovation strategy: an emphasis on small business, the emphasis...

Startup America and new firms are an even greater -- of even greater importance to the job engine. We released a whiteboard about Startup America....

So the market-based foundation is small business, startups and inventors. And the basic idea of the innovation strategy is that America has been the...

Questions for Austan and Gene.

Well, let me highlight. Let’s take one step back and talk for one second about the jobs numbers. There are two surveys. One is of people, and that's...

Yes, let me first rib Gene for always mentioning when he was last in the White House. (Laughter.) I’m just having fun.

I’m just having fun. I’m just having fun. (Laughter.)

Let me also, though -- Gene touched on advanced battery manufacturing. I think this...

I think the last few months you have seen a strengthening of confidence across the board. I think there’s been signs of greater confidence on consumers...

Gene and Austan, I want to ask you a question on innovation. Is there a concern with this 112th Congress, that there could be cuts in funding for the...

-- Austan was going --

I have a follow-up on that. What are you to the people who --

Gene, why don’t you come -- why don’t you come to the podium --

I was here then. I was here with Gene. Gene, let me ask you this. What do you think about what people are saying with budget cutting right now at...

Laura. And then we’ll let these guys get back.

Well, I mean, first of all, the President, through the American Care Act, has made a very significant dent in lowering health care spending, particularly...

I would say our current thinking is the budget will be released on the 14th. All right?

Patent reform? Uh oh.

He bet me nobody would ask about this. (Laughter.)

What’s it cost?

But you said it would require some investments --

And investments to fast-track reforms?

You’d charge more for --

Not more government money -- more money for the person wanting the patent.

It’s the guy behind you that is making faces.

Okay, Aneesh Chopra, the chief technology officer -- I want to give him a shout out --

Yes.

Let me know if you get that on --

Let me know if you get that in the news. I will.

I know we’ve got about half an hour or so before --

Let’s -- why not? I know there’s more patent questions.

No, you’ve already exceeded one and one. Take us away.

Well, first and foremost, I think that the message that has been delivered, again, through our embassy and through all levels of our engagement with...

Well, as we have said from the very beginning of this, these are solutions that can and will only be determined by the Egyptian people in solving the...

Well, again, this is -- these are -- this is not for us to determine, Jim. This is the addressing of individual rights and the freedoms that so many...

Well, as I said a minute ago, Jeff, I think there’s -- I think there is the likelihood of greater instability and uncertainty without the government...

Well, no, no -- let me -- I want to be clear, Jeff, I wasn’t answering your question because I think what we’re likely -- what we are likely to...

I think there are concrete actions that he can take and that the Vice President can take toward moving in the path of real change that can lessen instability...

I think this is a discussion that is being assisted by allies in and -- around the world, both in the region and outside the region.

Yes, sir.

Well, I -- Dan, I just outlined a series of steps right here in public that I think the government can and should take to address that very instability...

We have seen and I think White Houses and administrations here for many years have seen intelligence about the instability in countries in the Middle...

No, no, no, I didn’t say that, I didn’t say that -- I didn’t say that. I want to be clear, I did not say that. I said, was there specific intelligence...

No, no --

And I think some reporting has intimated that somehow that there was some intelligence failure that that didn’t happened. Rest assured that there...

The President expects that in any case, that he will be provided with relevant, timely and accurate intelligence assessments, and that’s exactly what’s...

I don’t think we are and I don’t -- it appears, based on the pictures I've seen on television today, neither are the people in Cairo or throughout...

Tuesday. I mean, again, I wasn’t -- President Mubarak said we needed that transition. President Obama agreed that that transition needed to happen...

I don't know that I’m in any position to say what exact steps would satisfy those in Cairo marching because they don't feel as if they’ve been heard...

I would say that I don't have a call -- I don't know that -- when I came out, I don't believe the President had spoken with anybody in the Egyptian...

Yes, yes. I know that --

Absolutely. There's important contact, first and foremost, at the embassy with the Ministry of Foreign Affairs.

Well, I’m not going to get into the specifics of each and every one of those calls. There’s, again, embassy-to-MFA contact. There's Pentagon-to-military...

Well, I think the biggest role -- the most important and biggest role that we can play is encouraging the government of Egypt to become involved in...

And, Bill, it’s -- and what do we see every day? More and more people come out. More and more reporters that are beaten. This is not going to be...

We have more than $1.5 billion on the line. We have important relationships and a very important national interest in stability and order in the country...

We have been broad, but we have -- and I don’t think anybody expects that we are going to outline each and everything that has to happen. Again,...

Well, this is -- absolutely.

But it -- I think what we have --

No, I mean, we’re not -- I have not heard that. I think what -- again, I think the greatest impediment to making this progress is beginning the process,...

Well, I think it’s important that the government begin to show concrete steps that it’s willing to take.

I would I guess direct you to what I said to Dan. I think the President felt -- has felt as if he’s gotten timely and accurate intelligence, and...

My guess is there’s a report that dates back each and every year about instability in many of these countries. I don’t think you need a report...

We have an important relationship, as I said earlier, with the country and with the people of Egypt. And we expect that whatever government comes next,...

Well, look, again, that’s a solution I think that’s going to come at the ground on Egypt -- in Egypt. I don’t think we’re looking at something...

Let’s not presuppose through -- by me through here what tools we would use. But again --

There’s a treaty -- this treaty is not with a particular president. It is with the government, the country and the people of Egypt. We would expect...

I'm not going to get into, again, conversations that are had in the Situation Room or between our President and other presidents.

Let me -- I shouldn’t wing it. Let me -- I'm happy to look at some -- a particular quote on that.

Jonathan.

Well, I think you just mentioned in many ways the broad arc of -- whether it’s the Europeans, whether it’s in the greater Middle Eastern region...

Jonathan, I think Ambassador Scobey spoke with Mohamed ElBaradei, as she has and will with a host of civil society and political opposition groups throughout...

Well, no, I think we have -- I think we -- have we seen enough progress? I think the answer to that clearly is no. I think very -- as we sit here...

Well, I think we are heartened -- I’ll split the question into two. I think we are heartened by two things. One, that we have broadly seen restraint,...

Well, again, I think it’s better because we haven’t seen -- I think, again, many of us -- I think many of us thought as night fell in Cairo last...

I’m not going to get into that question.

Sure.

Well, as you heard Austan and Gene -- and I should be careful because Austan is actually a trained economist and I just play one in here. So, look,...

I'm sorry, U.S. diplomat?

I think I would direct you to either the Pakistani government or our embassy in Islamabad on that question.

The President is aware of a lot of things, Goyal.

Yes, Glenn.

I think I answered broadly about the President’s view on intelligence that he’s gotten. I also think it is largely safe to assume that I am not...

As I did the first day of this. We support the aspirations of those in Cairo, in Alexandria, in countries throughout the world to see governments respect...

Well, again, I think that, as the President has said, I think you’re watching -- I think you’re watching what happens when people in a country do...

We got to --

Go ahead. I got only a couple of minutes and I’ll try to do this quickly.

We’ll play rapid fire. Go.

I have nothing on that.

I can check. I don't have any guidance on that. I think Rahm is still shoveling the President’s sidewalk.

Savannah.

I said -- no, no, let me be clear. I said --

Yes.

B-minus. (Laughter.)

Well, look, we are -- I think you’re going to see in the budget that the President releases, we are not going to -- on a whole host of things that...

No, I don't -- my guess is we’ve -- there have been a number of expenditures over the past 30 years to support groups with similar causes in Egypt....

I will say it’s remarkable that Iran would make a statement in -- given the -- given their actions when it came to their people exercising the same...

Let me do this quickly because I do have to -- you guys have to get to a press conference as well, I'm told.

I do think we can -- look, we continue...

The President will make a statement shortly, which is -- I will see you there.

Thanks, guys.