The new standard is a download speed of 25 Mbps (megabytes per second) and an upload speed of 3 Mbps. The old standard had been a minimum downloading speed of 4 Mbps , and 1 Mbps to upload. By way of comparison, Netflixrecommends a minimum speed of 5 Mbps to stream a video in HD, or 3 Mbps for SD.

As of last August, when the FCC first started considering a raise in broadband speed, almost one-fifth of all Americans lived in areas where 5-1 broadband was not available.

And as of today, the number of Americans who lack broadband access is vastly greater: 53 percent of rural Americans and 8 percent of urban Americans currently lack access to 25-3 Internet speeds, according to an FCC report.

If you currently have a home “broadband” connection with, for example, a downloading speed of 10 Mbps, the new FCC ruling does not mean that your home Internet connection will now become 2.5 times faster. Most likely, this means that, at least for the immediate future, you'll have the same Internet connection as before, only your ISP won't be able to call it “broadband” anymore.

Hopefully, though, your ISP will invest in network upgrades so that it can once again call itself “broadband,” since everybody knows that in Internet terms, “non-broadband” is basically synonymous with “slow.”