In Farewell Address, Biden Warns of Growing Oligarchy and Threats to Democracy

In his farewell address to the nation on Wednesday, President Joe Biden delivered a stern warning about the rise of an “oligarchy” in the United States, driven by the extreme wealth, power, and influence of a small elite. Speaking from the Oval Office, Biden, preparing to hand over power to President-elect Donald Trump on Monday, expressed deep concern over the concentration of power in the hands of a few ultra-wealthy individuals and the implications it holds for democracy and Americans’ rights.

“Today, an oligarchy is taking shape in America,” Biden said, emphasizing that the growing accumulation of wealth and influence by a select group threatens not only the country’s democracy but also the very freedoms and opportunities that form the foundation of American life. He specifically pointed to the “tech-industrial complex” as an example of how corporate power is infringing on the rights of citizens and undermining the future of democracy.

Biden’s address marks what is likely to be his final public remarks before leaving the White House, as he made a passionate call for safeguarding the nation’s democratic institutions against the unchecked abuse of power.