WASHINGTON — In his farewell address delivered from the Oval Office, President Joe Biden issued urgent warnings about the emergence of an “oligarchy” among the wealthy elite in the United States and the concerning influence of a “tech-industrial complex” on American liberties and democratic values.
With President-elect Donald Trump set to take office on Monday, Biden took this opportunity to highlight the troubling trend of power and wealth becoming concentrated in the hands of a few individuals. He expressed his concerns saying, “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.” This warning shed light on the potential hazards posed by this concentration of power and the misuse that could occur if left unchallenged.
Echoing the sentiments of President Dwight Eisenhower regarding the military-industrial complex during his departure from office in 1961, Biden voiced his fears about the burgeoning tech-industrial complex that might also endanger the nation’s integrity and future.
During his 15-minute address, Biden not only underscored the importance of a peaceful transfer of power, but alluded to potential issues with his successor without naming Trump. This farewell was a significant moment for Biden, who is concluding a lengthy career in public service spanning over 50 years, while also acknowledging the complexities of establishing his legacy amidst Trump’s reentry into the Oval Office. He urged the American people to remain vigilant about safeguarding their freedoms and democratic institutions during these eras of economic and technological transformation.
This speech was part of a broader narrative Biden has been conveying regarding both domestic issues and international relations, aimed at crafting a positive image of his administration’s accomplishments and changing the negative perceptions many Americans have held about his presidency. Earlier that day, he celebrated a hard-fought ceasefire deal between Israel and Hamas, hopeful that it would bring an end to a year of violence in the region.
“It’ll take time to feel the full impact of what we’ve done together but the seeds are planted and they’ll grow and they’ll bloom for decades to come,” he remarked, implicitly recognizing that many Americans feel the benefits of his extensive domestic policy initiatives have yet to be manifested in their daily lives.
Biden’s concerns regarding oligarchy come at a time when several high-profile billionaires in technology and other sectors have aligned themselves with Trump, especially following his election victory in November. Notably, figures like Elon Musk have invested heavily in supporting Trump, while others such as Mark Zuckerberg and Jeff Bezos have contributed to Trump’s inaugural efforts and sought private discussions with him at his Florida resort.
The outgoing president also criticized social media platforms for lessening their commitment to fact-checking, at a time when misinformation has become rampant, and even pointed out that Trump’s incoming communications team was propagating false information regarding the nature of his farewell address. Biden has previously indicated that misinformation on social media has contributed to his administration’s struggles to effectively reach the electorate in the modern fragmented media landscape.
Biden’s exit from the White House isn’t in the manner he envisioned as he originally intended to seek reelection despite apprehensions about his age during a potential second term. After experiencing a setback in a debate against Trump, Biden withdrew from the race and allowed Vice President Kamala Harris to step in as the Democratic candidate.
The address signified not just the conclusion of his presidency but also encapsulated his extensive five-decade political journey, which began when he became the youngest senator at 30 after winning a seat to represent Delaware in 1972. He had previously attempted to claim the presidency in both 1988 and 2008 before serving as vice president under Barack Obama. What appeared to be a retirement from politics was interrupted as he emerged as the unexpected Democratic nominee in 2020, eventually defeating Trump.
Highlighting his commitment to a smooth transition, he confirmed that he had engaged in discussions with Trump’s team and coordinated efforts regarding Middle Eastern negotiations. Additionally, he raised the idea of a constitutional amendment to abolish immunity for sitting presidents, referencing a Supreme Court ruling that afforded Trump extensive protections regarding his actions in the wake of the 2020 election.
As Biden delivered his remarks from behind the Resolute desk, family photos adorned the backdrop in the Oval Office, with First Lady Jill Biden, his son Hunter, grandchildren, Kamala Harris, and her husband Doug Emhoff in attendance. As he praised Harris, who he regarded as family, their connection was palpable as Jill Biden reached out to grasp Harris’s hand.
