In his farewell address on Wednesday, outgoing President Joe Biden issued a stark warning about the growing influence of an oligarchy in the United States, driven by extreme wealth and power that poses a threat to democracy and fundamental rights. Biden, 82, emphasized the dangers of an unchecked “tech-industrial complex,” suggesting that powerful entities could manipulate the system to serve their interests at the expense of the American public.
During his speech from the Oval Office, where his family gathered to support him, Biden reflected on the achievements of his single term in office, highlighting job creation, infrastructure investments, improvements in healthcare, and efforts to guide the nation through the pandemic. He expressed hope that the policies enacted would take time to yield significant benefits, remarking, “The seeds are planted, and they’ll grow and bloom for decades to come.”
Biden expressed concerns about climate change, asserting that “powerful forces” are attempting to undermine the progress made to address the climate crisis, motivated by their own desires for power and profit. He also criticized the spread of misinformation, stating that Americans are overwhelmed by falsehoods that erode democracy and enable power abuses.
In a pointed reference to social media, Biden criticized platforms like Meta for discontinuing independent fact-checking, suggesting that this allows disinformation to thrive. He expressed concern that a concentration of power among a few ultra-wealthy individuals, including figures like Elon Musk, Jeff Bezos, and Mark Zuckerberg, could lead to significant consequences for society.
Biden concluded his address with a call for Americans to safeguard their democracy, encouraging them to “stand guard” and be the “keeper of the flame.” He also celebrated the recent announcement of a ceasefire agreement between Israel and Hamas, which he claimed credit for negotiating, underscoring the many challenges he faced during his presidency.
This farewell address underscored the critical nature of democracy and the need for vigilance in the face of burgeoning concentrations of power in society, echoing sentiments expressed by earlier leaders warning against unchecked authority. Biden leaves office with a legacy that aims to inspire hope and resilience as the nation moves forward amid unprecedented challenges.