Biden Warns of Oligarchy and Urges Constitutional Reforms in Farewell Address

In a reflective farewell address delivered from the Oval Office, President Joe Biden issued a stark warning about the future of American democracy, citing the emergence of a powerful “oligarchy” that could undermine the nation's foundational values.

“Today, an oligarchy is taking shape in America of extreme wealth, power, and influence that literally threatens our entire democracy—our basic rights, freedoms, and a fair shot for everyone to get ahead,” Biden stated.

His remarks pointed to the rising influence of tech giants, singling out billionaire Elon Musk and Meta CEO Mark Zuckerberg, who have been associated with President-elect Donald Trump. Drawing historical parallels, Biden invoked former President Dwight Eisenhower’s warning about the “military-industrial complex,” expressing concern over what he termed a “tech-industrial complex.”

Biden sharply criticized social media platforms for abandoning fact-checking practices. “The truth is smothered by lies told for power and for profit,” he said, a reference to Meta’s decision to end its fact-checking program. He also addressed the potential dangers of artificial intelligence, calling it “the most consequential technology of our time” and urging robust safeguards to prevent threats to privacy, national security, and fundamental rights.

The president proposed a constitutional amendment to ensure that no president is immune from prosecution for crimes committed while in office. Without naming President-elect Donald Trump directly, Biden’s comments appeared to reference Trump’s legal controversies, including multiple indictments and impeachment proceedings during his previous term.

“A president’s power is not absolute, and it shouldn’t be,” Biden declared.

In his address, Biden also highlighted his administration's accomplishments, including job growth, lower prescription drug costs, and investments in clean energy. He emphasized the importance of protecting climate change initiatives from powerful interests seeking to reverse progress for profit.

Turning to international affairs, Biden noted a ceasefire agreement between Israel and Hamas as a significant achievement of his presidency. The deal, set to be implemented under the incoming administration, could mark a turning point in a conflict that has defined much of Biden’s tenure.

As he reflected on his time in office, Biden expressed gratitude for the opportunity to serve. “I ran for president because I believed the soul of America was at stake. And that’s still the case,” he said. “Now it’s your turn to stand guard. May you all be the keeper of the flame.”

Biden has yet to outline his post-presidency plans but confirmed that he would remain an active voice in public life. Following the inauguration, he and First Lady Jill Biden plan to travel to California for personal time, though ongoing wildfires may impact their itinerary.

“Serving as your president has been the highest honor of my life,” Biden concluded. “I still believe in the idea for which this nation stands—a nation where the strengths of our institutions and the character of our people endure.”