President Joe Biden Warns of Emerging Oligarchy in America During Farewell Address
Washington DC:
Departing US President Joe Biden delivered his final speech to the nation from the Oval Office on Wednesday and cautioned Americans about a “perilous consolidation of authority” among a select few affluent individuals in the United States.
Biden stated, “Presently, an oligarchy is emerging in America consisting of extreme affluence, control, and impact that directly jeopardizes our entire democracy, our fundamental rights and liberties, and an equitable opportunity for all to progress.”
The President also cautioned that Americans are falling prey to false information and that journalistic freedoms are declining, as Republican Donald Trump gears up to return to the White House in a few days.
It has been the honor of my life to serve our nation for more than 50 years.
I have devoted myself entirely to you, and I have been abundantly blessed with the love and backing of the American people in return.
Join me as I present my farewell speech. https://t.co/DRr4U4sa7B
— President Biden (@POTUS) January 16, 2025
“Americans are being overwhelmed by a deluge of misinformation and disinformation, facilitating the misuse of authority,” he remarked, adding that “the independent press is disintegrating. Editors are vanishing.”
He mentioned that social media platforms are abandoning fact verification. “The truth is suffocated by falsehoods – propagated for authority and profit. We must ensure that social platforms are held accountable to safeguard our children, our families, and our very democracy, from the exploitative authority,” he declared.
Biden also voiced apprehensions regarding the emergence of a “tech-industrial complex” and advocated for the accountability of social media platforms.
“Americans are being overwhelmed by a deluge of misinformation and disinformation, facilitating the misuse of authority. The independent press is disintegrating. Editors are vanishing. Social media platforms are abandoning fact verification. The truth is suffocated by falsehoods propagated for authority and profit.”
In an indirect criticism of Trump, he mentioned ‘influential entities’ jeopardizing climate progress.
He highlighted that following eight months of continuous negotiations by his administration, a truce and hostage agreement had been brokered with Hamas.
The President is concluding his term with a modest approval rating – although higher than his forerunner and successor. Biden’s tenure officially concludes on January 20 with Donald Trump’s inauguration.