Biden warns of oligarchy threatening U.S. democracy in farewell address
On Wednesday, January 15, U.S. President Joe Biden bid farewell to the nation, warning of the rise of an "oligarchy" that, he claimed, threatens American democracy, according to DW.
"Today, in America, an oligarchy is emerging that is literally putting our entire democracy at risk," declared the 82-year-old Democratic leader, ending his sole presidential term. He explained that he was referring to the "concentration of power in the hands of a tiny group of extremely wealthy individuals."
Biden drew attention to an "avalanche of disinformation" that, he said, is affecting American society and fueling abuses of power. The outgoing president directly criticized companies like X (formerly Twitter) and Meta, along with their founders, Elon Musk, who became an advisor to the elected President Donald Trump, and Mark Zuckerberg.
He also noted that during his time in office, he managed to boost economic growth while simultaneously protecting the environment. "I have shown that we can do both, but powerful forces are trying to use their unchecked influence to reverse the progress made in combating the climate crisis," he stated.
"The president’s power is not without limits. It is not absolute," Biden stressed. He expressed concern over the limits of executive power in the United States and called for constitutional amendments that would prevent any president from being immune to criminal prosecution for crimes committed during their term.
Just days before handing over power, Biden's approval rating dropped to 36%, the lowest level of his presidency, according to CNN polls. In comparison, at the end of his term in 2021, Donald Trump had a rating of just 34%.
Republican Donald Trump is set to be inaugurated as the 47th President of the United States on January 20.
Translation by Iurie Tataru
