Published: Jul 29, 2010 6:52 PM EDT
Updated: Jul 29, 2010 3:51 PM EDT

WASHINGTON (AP) - President Barack Obama says the country's long-term economic success will be tied to the success of the nation's schools.

Speaking at the centennial convention of the National Urban League, Obama says he won't tolerate a status quo where United States lags behind other countries in education achievements.

The National Urban League was one of eight civil rights organizations that released a report this week calling the president's $4.35 billion education initiative an ineffective approach for failing schools. The report says federal data shows that just 3 percent of the nation's black students and less than 1 percent of Latino students are affected by the first round of the administration's "Race to the Top" competition.