Biden Warns of Rising Oligarchy in Farewell Address

In his final speech from the Oval Office on Wednesday, President Joe Biden warned of the dangers posed by an emerging oligarchy in the United States.

Reflecting on his accomplishments and expressing concerns for the nation's future, Biden addressed threats he believes could undermine democracy and equality as he prepares to leave office.

Biden opened by highlighting progress made during his presidency, including brokering a ceasefire between Israel and Hamas. However, his tone shifted as he expressed concerns about growing concentrations of wealth and power.

“Today, an oligarchy is taking shape in America of extreme wealth, power, and influence that literally threatens our entire democracy, our basic rights, and freedoms,” Biden stated.

He warned that such concentrations erode unity, sow distrust, and discourage public engagement in democracy. “Participating in our democracy becomes exhausting and even disillusioning,” he said, calling on Americans to remain engaged in preserving democratic values.

Biden also spoke about the risks posed by the “tech-industrial complex” and advocated for constitutional amendments, including one to ensure presidents can face prosecution for crimes committed while in office.

Without mentioning President-elect Donald Trump by name, Biden alluded to the incoming administration’s ties to tech billionaires like Elon Musk, Jeff Bezos, and Mark Zuckerberg. Musk, in particular, is reportedly advising Trump on government spending and regulations.

Biden voiced concerns about the influence of such figures, warning that their actions could widen inequalities and benefit only the wealthy.

Another focal point of his speech was the rise of misinformation. Biden criticized technology companies for abandoning fact-checking programs, pointing to Zuckerberg’s recent announcement that Meta would end its efforts in this area.

“Americans are being buried in an avalanche of misinformation and disinformation,” Biden said. “The truth is smothered by lies, both for power and profit.”

He also highlighted the risks of artificial intelligence and reiterated his support for banning congressional stock trading, emphasizing the need for transparency and accountability.

Concluding his address, Biden reflected on his 50 years in public service and urged Americans to protect the nation’s ideals.

“I give you my word, I still believe in the idea of where this nation stands,” he said. “Now it’s your turn to stand guard. May you all be the keeper of the flame. May you keep the faith.”

Biden ended his remarks with a symbolic reference to the Statue of Liberty, noting its resilience despite challenges.

Surrounded by family and senior administration officials, including First Lady Jill Biden and Vice President Kamala Harris, he wished the Trump administration success, stating, “I want America to succeed.”

With a call to unity and a defense of democratic principles, Biden closed the chapter on his presidency, leaving the next administration with both cautionary advice and hope for the nation’s future.