The private sector has done such a great job of innovating the Internet that the US has slower connection speeds at much higher prices than many other countries. Instead of investing in the infrastructure for better service the cable Internet companies are hunkering down and trying to bilk as much money out of their customers as possible, and they’re opposed to net neutrality for the obvious reason that it will prevent them from making mega-deals with larger corporations to guarantee them faster access.
It’s a textbook example of private enterprise out of control and reactionary, and the President’s right, the Internet isn’t just a luxury any more - for many it’s a necessity.