In his farewell address, outgoing U.S. President Joe Biden warned of the growing threat of an oligarchy taking shape in America, as he concluded his decades-long political career.
The 82-year-old president expressed deep concern over the concentration of wealth, power, and influence in the hands of a few, which he believes is undermining the country’s democracy and eroding fundamental rights and freedoms. He stressed that this emerging oligarchy poses a direct threat to the principles upon which the United States was founded.
Biden specifically took aim at what he described as an ultra-wealthy “tech-industrial complex,” referencing the growing influence of tech giants like Silicon Valley executives, including Elon Musk, Jeff Bezos, and Mark Zuckerberg, who he suggested could wield unchecked power over American society.
His remarks were a veiled criticism of figures like Musk, who has been a significant backer of former President Donald Trump, further cementing the perceived link between the tech elite and political influence.
Biden’s comments echoed those of President Dwight Eisenhower, who famously warned of the “military-industrial complex” in his own farewell speech in 1961.
Biden emphasized that this concentration of wealth and power could result in “dangerous consequences” if it remains unchecked. He warned that these elites could potentially erode the gains made in areas like climate change action, healthcare reform, and workers’ rights, all in pursuit of their own interests and profits.
In his speech, Biden cautioned that these “powerful forces” are already seeking to roll back the progress made in combating the climate crisis, which he described as one of the most pressing global challenges of our time.
The president also addressed the spread of misinformation and disinformation, which he argued is fueling the abuse of power and deepening divisions within the country. He criticized social media platforms, particularly Meta, for abandoning their efforts to fact-check content, allowing lies to spread unchecked.
“The truth is smothered by lies told for power and profit,” he said, highlighting how disinformation has become a tool for manipulating public opinion and undermining democratic institutions.
Biden also reflected on the achievements of his administration, including job creation, healthcare reforms, infrastructure investments, and efforts to bring the U.S. out of the pandemic.
He noted that while the full impact of these policies may take time to be felt, the seeds have been planted, and the benefits would be visible for generations to come. He expressed optimism that the groundwork laid would ensure the country’s future prosperity and stability.
In the latter part of his speech, Biden wished success to Donald Trump’s incoming administration but issued a series of stern warnings, underscoring that “so much is at stake right now.” He called for unity and vigilance, urging Americans to “stand guard” against the forces threatening democracy.
His farewell address came on the same day he announced a historic ceasefire agreement between Israel and Hamas, which he described as one of the most challenging negotiations of his career.
Biden took credit for helping broker the deal, which will take effect on January 19, a day before Trump is due to assume office. While Trump also claimed credit for the deal, Biden emphasized his role in bringing the negotiations to fruition, underscoring the importance of diplomacy and international cooperation.
In his closing remarks, Biden appealed to the American people to protect the values and ideals of the country, calling on them to be the “keeper of the flame” as he passes on the responsibility of leading the nation to the next generation of leaders.
The address marked the end of Biden’s presidency, but his final message was one of hope, caution, and a reminder that democracy requires constant vigilance.
