U.S President, Joe Biden has expressed concern about seeing America fall into the hands of an “oligarchy”, targeting.
In his farewell speech to the country on Wednesday, Mr. Biden issued stern warnings about the emergence of an ultra-wealthy “oligarchy” and a “tech-industrial complex” that are encroaching on the rights of Americans and the future of democracy.
Speaking from the Oval Office as he prepares to hand over power on Monday to President-elect Donald Trump, Biden seized what is likely to be his final opportunity to address the country before he departs the White House to spotlight the accumulation of power and wealth in the U.S. among just a small few.
Biden said “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, and a fair shot for everyone to get ahead,” drawing attention to “a dangerous concentration of power in the hands of a few ultra-wealthy people and the dangerous consequences if their abuse of power is left unchecked.”
“Powerful forces want to wield their unchecked influence, to eliminate the steps we’ve taken to tackle the climate crisis, to serve their own interest for power and profit,” he said. “We must not be bullied into sacrificing the future, the future of our children and our grandchildren, must keep pushing forward and push faster. There’s no time to waste.”
Biden also raised concerns about the rise of artificial intelligence, and the possibilities and dangers advancing technologies posed. He lamented the rise in misinformation online and what he described as a “crumbling” free press that he said were enabling abuses of power.
Biden pushed for reforming the tax code so that billionaires pay their “fair share” and for amending the Constitution to make clear that no president is immune from criminal liability — an apparent slight at Trump, who was previously under federal indictment for his behavior after the 2020 election and is set to be sworn into office in five days.
He went on to say “A president’s powers is not unlimited. It’s not absolute and it shouldn’t be,”.
“And in a democracy, there’s another danger to the concentration of power and wealth. It erodes the sense of unity and common purpose. It causes distrust and division.
“Participating in our democracy becomes exhausting and even disillusioning,” he continued. “And people don’t feel like they have a fair shot. We have to stay engaged in the process.”
He commended Vice President Kamala Harris as a “great partner” as she sat nearby alongside second gentleman Doug Emhoff, first lady Jill Biden and Hunter Biden.
Biden listed several of his key legislative wins, including lowering prescription drug prices, expanding benefits for military veterans exposed to burn pits, investing in domestic manufacturing of semiconductor chips and more. The impact of those policies, he noted, may not be fully realized for years to come.
He also briefly highlighted the ceasefire and hostage release deal reached by Israel and Hamas earlier Wednesday, a foreign policy goal of Biden’s for more than a year that became reality just days before his departure.
Biden used his 15-minute address to offer a model for a peaceful transfer of power.
The U.S president is departing the national stage after more than 50 years in public life, as he has struggled to define his legacy and to steel the country against the return of Trump to the Oval Office.
