Washington DC:
Outgoing US President Joe Biden has warned Americans about the “dangerous concentration of power” among America’s wealthy few, warning of the future under Donald Trump and threats from oligarchy, disinformation and AI. He urged people to be “vigilant.” He will deliver a farewell speech on Wednesday ahead of his resignation next week.
In a brief speech from the Oval Office, the Democrat touted his accomplishments in guiding the U.S. economy out of the deep crisis caused by the coronavirus pandemic and strengthening America’s alliances overseas.
“An oligarchy is forming in the United States,” he said, in a veiled reference to President-elect Trump’s close ties to billionaire Elon Musk and other big-name politicians, and “a dangerous concentration of power.” ”
“Today, an oligarchy is forming in the United States with extreme wealth, power, and influence that literally threatens our entire democracy, our fundamental rights and freedoms, and a fair chance for everyone to advance,” Biden said. “There is,” he said.
It has been the privilege of my life to serve our country for over 50 years.
I have given my heart and soul to you, and in return I have been blessed millions of times with the love and support of the American people.
Please join us as we bid farewell. https://t.co/DRr4U4sa7B
— President Biden (@POTUS) January 16, 2025
He said the ultra-wealthy people around President Trump represent a concentration of “extreme wealth, power and influence that literally threatens our entire democracy.”
Recalling that former President Dwight Eisenhower warned of the dangers of an out-of-control military-industrial complex in his farewell address in 1961, he said, “I am equally concerned about the potential rise of a high-tech industrial complex.” “I’m doing it,” he said. ”
The president also warned that Americans are succumbing to misinformation and press freedom is deteriorating, noting that the “collapse” of the media means people are becoming increasingly vulnerable.
“Americans are being buried under an avalanche of disinformation, enabling abuse of power,” he said, adding, “Freedom of the press is crumbling. Editors are disappearing.”
He said social media is abandoning fact-checking. “The truth is obscured by lies told by power and profit. We must hold our infrastructure accountable to protect children, families, and democracy itself from abuses of power. ” he said.
Biden also explicitly referenced President Trump’s plans to roll back environmental protection policies and withdraw from major international agreements to combat global warming, saying, “We want to use our unchecked influence to eliminate the measures we have taken.” For power and profit to serve their own interests. ”
Citing another increasingly global challenge, Biden said artificial intelligence is “the most important technology of our time,” and while it has the potential to bring tremendous benefits, it also poses “risks to the economy, security, and society.” ” may result.
He noted that the administration had reached a ceasefire and hostage agreement with Hamas after eight months of ceasefire negotiations.
The president leaves office with low approval ratings, but higher than his predecessors and successors. Biden’s term will officially end on January 20th, when Donald Trump is inaugurated.
