Biden warns of 'oligarchy of wealth' in farewell address
US president Joe Biden used his farewell address to warn of profound threats to American democracy. He highlighted the fragile state of democratic institutions and called on Americans to protect the ideals that have sustained the nation for nearly 250 years.
In his final address as president, Biden described an “emerging oligarchy” driven by a handful of ultra-wealthy individuals that undermines equality and erodes trust in democratic institutions.
Speaking from the Oval Office, he emphasised the importance of preserving democracy: “Democracy is not perfect, but it has endured for nearly 250 years.” He also called on Americans to safeguard it for future generations.
Biden also reflected on his administration’s achievements, including significant job creation, improved access to healthcare and action on gun safety and climate change. He highlighted ongoing challenges like misinformation, the risks of artificial intelligence and the erosion of free press standards.
11th hour
The 82-year-old, who gave up his re-election ambitions after questions about his age and fitness, is leaving office deeply unpopular. In less than a week he will hand over power to Donald Trump, marking the return of a leader Biden had once vowed to block.
In his final days in office, Biden issued a flurry of decisions to secure his legacy. He announced Cuba’s removal from the list of state sponsors of terrorism, part of a broader deal to release political prisoners in Havana.
"Democracy is not perfect, but it has endured for nearly 250 years"
On the environment, he imposed a ban on oil and gas drilling across 625 million acres of US coastal waters. Additionally, he extended deportation protections for immigrants from countries like Ukraine, Venezuela and El Salvador and authorised long-range missile support for Ukraine, emphasising his commitment to its defence against Russia.
Meanwhile, president-elect Trump’s cabinet picks are rapidly gaining support in the Senate. While some nominees, like Defence secretary hopeful Pete Hegseth, initially faced significant resistance, their prospects have improved after contentious hearings. More controversial appointees, however, such as Kash Patel, Tulsi Gabbard and Robert F Kennedy Jr, are yet to be publicly questioned by senators.
US president Joe Biden delivers his farewell address © PHOTO MANDEL NGAN / POOL / AFP
Related news
