While it's hard to make a data driven argument in this field, I think the US government has been incredibly successful in picking winning new technological ideas, judged by my notion that the vast majority of the scientific and technical advances in the last 60 years have occurred here in the United States. The US government has long had a tradition of picking winners in science and technology, and I don't think the fact that we are also the leader in science and technology is simply coincidental to that.

Looking for counterexamples, ie technical advances that have occurred outside of the US due to lack of government support, the only one that comes to mind is the failures in green technology, but I think that small failures there are minor compared to the other successes.

I also think looking for scientific literacy in the executive positions of government is less relevant in the highly bureaucratic world of government funded research, as there executives have less control on individual funding than they would in the private sector. As long as the the executives respect the technical expertise of their bureaucrats, (and the workforce is knowledgeable), then individual domain knowledge is less critical than it would be in the private sector.