President Obama has unveiled an $18 billion plan to expand high-speed wireless internet nationwide. The funding would be raised by auctioning off airwaves that currently belong to television stations and government agencies.

President Obama: “We want to invest in the next generation of high-speed wireless coverage for 98 percent of Americans. This isn’t just about faster internet or being able to find a friend on Facebook. It’s about connecting every corner of America to the digital age.”

In promoting his plan, Obama noted that the internet was first created by government-funded research before it was turned over to private profit.

President Obama: “Today, more than 90 percent of homes in South Korea subscribe to high-speed broadband. They just have better networks than we do. In America, the nation that created the internet — by the way, because of government investment; didn’t just happen by itself magically. Because of government R&D, we created the internet. But yet, only 65 percent of households here in America can say the same.”