In his farewell address to the nation on Wednesday (Jan. 15), President Joe Biden delivered a message about threats to democracy, significant changes to technology and the economy, world conflicts and more. The speech marked the culmination of his over 50-year career in public service as he prepares to transfer power to President-elect Donald Trump on Monday (Jan. 20).
Biden spoke for roughly 15 minutes from the Resolute desk in the Oval Office with photos of loved ones on display behind him. According to The Associated Press, his in-room audience included first lady Dr. Jill Biden, his son Hunter, several grandchildren, Vice President Kamala Harris and second gentleman Doug Emhoff.
Biden began by warning about “the dangerous concentration of power in the hands of a very few ultrawealthy people.” “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,” he cautioned. The president highlighted the risks of this unchecked dominance by drawing a parallel to Dwight Eisenhower’s 1961 speech regarding the military-industrial complex. “I’m equally concerned about the potential rise of a tech-industrial complex that could pose real dangers to our country as well,” he remarked.
Biden further expressed alarm over the growing influence of billionaires and tech industry leaders who have aligned themselves with Trump, whom he never specifically named, in recent months. As AP noted, Elon Musk, who is set to be a part of Trump’s cabinet, and other executives like Mark Zuckerberg and Jeff Bezos contributed to the incoming administration’s initiatives in order to secure access.
Biden criticized social media for abandoning fact-checking and enabling the spread of misinformation. He acknowledged his own difficulties in effectively engaging with the public through those platforms as a result. In outlining a path forward, he also proposed measures to address various issues, including overhauling the tax code to ensure billionaires “pay their fair share,” eliminating undisclosed funding in political campaigns, instituting 18-year term limits for Supreme Court justices and prohibiting members of Congress from trading stocks.