Oligarchy Threatens American Democracy: President Biden's Stark Farewell Warning

In a powerful farewell address from the Oval Office, outgoing U.S. President Joe Biden warned of the growing threat of oligarchy in America. Biden expressed grave concerns over the concentration of wealth, power, and influence in the hands of a few, describing it as a direct threat to democracy, fundamental rights, and equal opportunity. He lamented the erosion of press freedoms, the spread of misinformation, and the unchecked dominance of social media platforms, which he said prioritize profit over truth. The President called for accountability in the tech industry to protect democracy and prevent the abuse of power.

Biden also highlighted the rise of a "tech-industrial complex," emphasizing the need to hold social platforms responsible for fact-checking and safeguarding truth. He criticized the current environment, where lies often overpower facts, and editors are disappearing, leaving the media landscape vulnerable.

In a veiled critique of his successor, Republican Donald Trump, Biden warned of "powerful forces" threatening climate progress and other achievements of his administration. He acknowledged his administration's success in negotiating a ceasefire and hostage deal with Hamas, achieved after eight months of persistent effort.

Despite leaving office with a low approval rating, Biden noted that his rating remains higher than those of his predecessor and successor. His farewell marked a somber reflection on the state of the nation as he prepares to leave the presidency on January 20, handing over the reins to Trump.