The US economy should have 4-5% GDP growth.
Matching Korea's Broadband would be a 2.5% GDP boost.
Arthur D. Little and Chalmers University of Technology study shows that doubling the broadband speed for an economy increases GDP by 0.3%. A 1000 times increase in broadband speed should mean a 3.0% boost in GDP.
If the US were to build out 1 gigabit per second internet, there should be a one time boost of about 2.5% in GDP.
This would be $375 billion each year and increasing with further GDP increases. The US has an average broadband speed of about 4-5 mbps.
Since 1991 to 2010, the telecom companies have pocketed over $320 billion --- that's about $3,000 per household. This money was supposed to be used to keep the communications network up to date.
In 2009, the FCC's National Broadband plan claimed it will cost about $350 billion to fully upgrade America's infrastructure.
Click headline to read more--