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In farewell speech, Biden warns of an 'oligarchy' taking shape in America
The Philippine Star
|January 18, 2025
President Joe Biden on Wednesday warned that an “oligarchy” of the ultra-wealthy was emerging in America, sounding the alarm about unchecked power as he gave a farewell speech to the nation just days before he surrenders office to a man he disdains.
In an address from the Oval Office, Biden expressed concern about the “dangerous concentration of power” and issued a plea for the preservation of democratic ideals and institutions under the administration of President-elect Donald Trump.
“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,” Biden said.
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