In his final address from the Oval Office, President Joe Biden expressed deep concern over the growing concentration of power among the ultra-wealthy, characterizing it as an 'oligarchy' posing a threat to American democracy and fundamental rights. This warning echoes previous rhetoric used by Biden and his administration concerning threats to democracy, particularly from former President Donald Trump and his supporters.
President Joe Biden declared during his farewell address that an “oligarchy” of the “ultra-wealthy” and powerful is forming that “threatens our entire democracy.”
Joe Biden issued his warning while speaking to the American public from the Oval Office for the final time. “…I want to warn the country of some things that give me great concern … and that’s a dangerous concentration of power in the hands of a very few ultra-wealthy people,” Biden said. “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 added.
Biden has notably used similar variations of “threat to democracy” rhetoric while speaking about President-elect Donald Trump and his supporters.Trump a “genuine threat to this nation” weeks before exiting the presidential race in July, while Vice President Kamla Harris used similar rhetoric in the final stages of her fruitless campaign.“MAGA Republicans” as threats to democracy during his infamous speech in September 2022 outside Independence Hall in Philadelphia, Pennsylvania.
Oligarchy Democracy Wealth Inequality Biden Administration Donald Trump
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