In his farewell address, President Joe Biden warned of a growing oligarchy and a potential tech-industrial complex threatening democracy and individual rights. He criticized the concentration of wealth and power in the hands of a few, urging vigilance against the erosion of freedoms and institutions.
WASHINGTON — President Joe Biden used his farewell address to the nation Wednesday to deliver stark warnings about an “oligarchy” of the ultra-wealthy taking root in the country and a “tech-industrial complex” that is infringing on Americans' rights and the future of democracy.
Invoking President Dwight Eisenhower’s warnings about the rise of a military-industrial complex when he left office in 1961, Biden added, “I’m equally concerned about the potential rise of a tech-industrial complex that could pose real dangers to our country as well.” Biden sounded the alarm about oligarchy as some of the world’s richest individuals and titans of its technology industry have flocked to Trump’s side in recent months, particularly after his November victory.
“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,” Biden said. It was a tacit acknowledgement that many Americans say they have yet to feel the impact of his trillions of dollars spent on domestic initiatives.
The speech Wednesday night capped not just Biden’s presidency but his five decades in politics. He was once the country’s youngest senator at 30 years old after being elected to represent his home state of Delaware in 1972. As he highlighted his own commitment to ensuring a peaceful transition of power, including holding briefings with Trump’s team and coordinating with the incoming administration on the Middle East negotiations, Biden also called for a constitutional amendment to end immunity for sitting presidents. That came in response to a Supreme Court ruling last year that granted Trump sweeping protections from criminal liability over his role in trying to overturn his 2020 defeat to Biden.
OLIGARCHY TECH-INDUSTRIAL COMPLEX BIDEN DEMOCRACY FREE SPEECH
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