President Joe Biden gave a sobering farewell speech to the US on Wednesday night, warning about an ‘oligarchy’ which is taking shape in America.
Speaking from the Oval Office as he prepares to hand over power to President-elect Donald Trump, on Monday, Biden sounded the alarm over the accumulation of power and wealth among a small few.
He 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.’
Biden also touched on the military-industrial complex, evoking remarks previously made by President Dwight Eisenhower.
‘I’m equally concerned about the potential rise of a tech-industrial complex that could pose real dangers to our country as well,’ he said.
The world’s richest men are flocking around Trump – especially those in the tech industry, including Elon Musk, Mark Zuckerberg and more.
Billionaire Musk spent more than £81.7 million to help Trump get elected, and executives like Meta’s Mark Zuckerberg and Amazon’s Jeff Bezos have donated to Mr Trump’s inaugural committee.
He also called for a constitutional amendment to end immunity for sitting presidents, after the Supreme Court granted Trump protections last year from criminal liability over his role in trying to undermine his 2020 defeat to Biden.
Biden concluded: ‘Nowhere else on Earth could a kid with a stutter from modest beginnings in Scranton, Pennsylvania, and Claymont, Delaware, one day sit behind the Resolute Desk in the Oval Office as President of the United States.
‘I have given my heart and my soul to our nation. And I have been blessed a million times in return with the love and support of the American people.’
Biden’s four years in office
Biden pursued the presidency in 1988 and 2008 before becoming Barack Obama’s vice president. After serving two terms, Mr Biden was considered to be retired from politics.
But he returned to centre stage as the unlikely Democratic nominee in 2020, successfully ousting Trump from the White House.
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He helped lead the nation through the second year of the Coronavirus pandemic.
Biden also helped to rebuild relationships with NATO and other allies.
He also stood as a strong force during Russia’s invasion of Ukraine and the events of October 7, 2023, which sparked a war between Hamas and Israel.
He also signed marriage equality into law with the Respect for Marriage Act. This enshrines marriage equality for same-sex and interracial couples in federal law.
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