President Biden delivered his farewell address on Wednesday from the Oval Office, using the opportunity to reflect on his legacy and issue warnings about the growing dangers of unchecked power and wealth. He described an emerging oligarchy in America, emphasizing the risks posed by a concentration of power in the hands of a few ultra-wealthy individuals. Biden warned that this dynamic threatens democracy, fundamental rights, and the principle of equal opportunity.
Drawing parallels to President Dwight Eisenhower’s 1961 warning about the “military-industrial complex,” Biden identified today’s threat as a “tech industrial complex.” He highlighted the consequences of this concentration of power, including its impact on climate change efforts, where powerful entities oppose progress to protect their interests.
Biden also addressed the erosion of truth in society, noting the rise of misinformation and the decline of traditional media oversight. He cautioned about the dangers of artificial intelligence, calling for safeguards to prevent its misuse, which could jeopardize privacy, democracy, and national security.
The president proposed significant reforms, including banning “dark money” in campaigns, restricting stock trading by members of Congress, and imposing 18-year term limits for Supreme Court justices.
Without naming President-elect Donald Trump, Biden called for a constitutional amendment to ensure no president is immune from prosecution while in office.
Reflecting on his decades-long career, Biden expressed pride in his accomplishments, including pandemic recovery, infrastructure investments, prescription drug price reductions, and gun-safety legislation. He also announced a ceasefire agreement in the Israel-Hamas conflict as a diplomatic success.
Biden, 82, acknowledged his decision to step aside after his reelection bid faltered amid concerns over inflation, immigration, and his age. Despite leaving office with low approval ratings, he affirmed his enduring faith in the nation’s future and passed the responsibility of safeguarding democracy to the American people, urging them to “keep the faith.”
