Joe Biden warns 'oligarchy is forming in America' in farewell address Joe Biden

Joe Biden struck an ominous tone in his final address to the nation, warning of the growing power of America's super-rich and emerging oligarchies that threatened the foundations of American democracy.

The prime-time Oval Office address on Wednesday comes as Biden prepares to hand the presidency back to Donald Trump. He defeated Trump in 2020 but returned to power after Biden dramatically exited politics last summer.

“Today, an oligarchy of extreme wealth, power and influence is taking shape in America that literally threatens our entire democracy, our fundamental rights and freedoms, and a fair opportunity for everyone to succeed,” Biden said.

The president outlined some of his most pressing concerns, including what he called a “shaky” free media, the outsized influence of the military-industrial complex, rising disinformation and the need to eliminate dark money from politics. He also called for constitutional changes to ensure presidential accountability, arguing that no president should be immune from prosecution for crimes committed while in office.

His presidency began with a promise to restore America's soul but ended with him leaving office after one term. In July, he gave up his re-election bid under pressure from his own party over concerns about his age and suitability for office. His recognized successor, Kamala Harris, subsequently lost the November election to Trump.

Despite lower approval ratings in the final months, Biden has sought to highlight his administration's significant legislative achievements, including investments in infrastructure and clean energy, measures to lower prescription drug costs and efforts to guide the country through the pandemic. Aftermath. His administration also oversaw major conservation efforts and worked to rebuild American manufacturing.

Earlier on Wednesday, Biden announced a breakthrough ceasefire agreement between Israel and Hamas, ensuring the final diplomatic victory of his presidency. Trump's team played a catalyst role in brokering the deal, which he first proposed last spring, that could end a 15-month conflict that has paralyzed Gaza. , the United States is increasingly isolated on the global stage, with the government facing widespread protests on college campuses and further afield.

“This plan was developed and negotiated by my team and will be implemented primarily by the incoming administration,” Biden said of the impending ceasefire agreement. “That's why I told my team to let the incoming administration 's government is fully informed because that's how Americans should work together.”

In a letter released ahead of the speech, Biden reflected on his journey from “a stuttering kid” in Scranton, Pennsylvania, to the nation's highest office. “I have given my heart and soul to our country.”

The president remains dismissive of his decision to drop out of the race, telling donors last week that he believed he “could have beaten Trump” but chose to step aside in order to unite Democrats. He has also said he plans to remain politically active after leaving office, telling reporters recently: “I'm not going to disappear from sight or from people's minds.”

The farewell address continued a tradition dating back to George Washington, although Biden delivered it under particularly complicated circumstances – leaving office after one term and being succeeded by a predecessor he had repeatedly warned was a dangerous undertaking for American democracy. threaten.

The speech capped a series of farewell appearances, including a speech at the State Department on Monday in which Biden argued that he had strengthened the United States' global standing.

For Biden, who entered national politics as a senator in 1972 and served as vice president under Barack Obama, the farewell address marked the end of a political career that spanned nine presidents. , also marked the end of a political career that marked almost every major moment in modern American history. American life has its celebratory and controversial ways.

“I believe the America of our dreams is always closer than we think,” Biden said. “It's up to us to make our dreams come true.”