He says instead of racing ahead to the next cutting edge, American scientists are wondering whether they'll be able to develop any new products at all.
He says the U.S. can't afford to stand still for two or three years.
With Obama's blessing, Congress has already acted to fix flight delays that emerged when air traffic controllers were furloughed due to the cuts. But Obama is still pushing a broader plan to replace all the cuts.
Obama spoke at the 150th anniversary of the National Academy of Sciences. He says as long as he's president, the U.S. will continue to invest in science and innovation.