Biden, in farewell address, warns about dangers of unchecked power in ultra-wealthy

President Joe Biden, in his farewell deal with, mirrored on a decadeslong political profession but additionally issued a stark warning to the nation as he prepares to cede energy to President-elect Donald Trump.

Talking from behind the Resolute Desk within the Oval Workplace, Biden stated he was pleased with what his administration achieved because the nation climbed out of the coronavirus pandemic and made investments within the economic system, infrastructure, gun security, local weather change and extra.

“Up to now 4 years, our democracy has held robust and daily I’ve stored my dedication to be president for all People for one of many hardest intervals in our nation’s historical past,” Biden stated.

He recommended Vice President Kamala Harris as a “nice associate” as she sat close by alongside second gentleman Doug Emhoff, first woman Jill Biden and Hunter Biden.

Biden listed a number of of his key legislative wins, together with decreasing prescription drug costs, increasing advantages for army veterans uncovered to burn pits, investing in home manufacturing of semiconductor chips and extra. The impression of these insurance policies, he famous, is probably not totally realized for years to come back.

He additionally briefly highlighted the ceasefire and hostage launch deal reached by Israel and Hamas earlier Wednesday, a international coverage objective of Biden’s for greater than a 12 months that turned actuality simply days earlier than his departure.

He touted working with the incoming Trump administration to see via its implementation. “That is the way it needs to be, working collectively,” Biden stated.

However Biden spent nearly all of his remarks on one thing he stated brought about him nice concern — what he stated was the focus of energy within the fingers of some rich people.

“Right now, an oligarchy is taking form in America of maximum wealth, energy and affect that actually threatens our total democracy, our fundamental rights and freedoms, and a good shot for everybody to get forward,” he stated.

He spoke in regards to the risk he stated the rich posed to efforts to battle the risks of local weather change.

“Highly effective forces wish to wield their unchecked affect, to get rid of the steps we have taken to sort out the local weather disaster, to serve their very own curiosity for energy and revenue,” he stated. “We should not be bullied into sacrificing the long run, the way forward for our youngsters and our grandchildren, should maintain pushing ahead and push quicker. There is no time to waste.”

Biden additionally raised issues in regards to the rise of synthetic intelligence, and the chances and risks advancing applied sciences posed. He lamented the rise in misinformation on-line and what he described as a “crumbling” free press that he stated have been enabling abuses of energy.

“In his farewell deal with, President Eisenhower spoke of the risks of the army industrial advanced,” he stated. “He warned us then about, and I quote, ‘the potential for the disastrous rise of misplaced energy’ … six many years later, I am equally involved in regards to the potential rise of a tech-industrial advanced that might pose actual risks for our nation as effectively.”

Biden pushed for reforming the tax code in order that billionaires pay their “fair proportion” and for amending the Structure to clarify that no president is immune from legal legal responsibility — an obvious slight at Trump, who was beforehand below federal indictment for his conduct after the 2020 election and is about to be sworn into workplace in 5 days.

“A president’s powers just isn’t limitless. It is not absolute and it should not be,” Biden stated. “And in a democracy, there’s one other hazard to the focus of energy and wealth. It erodes the sense of unity and customary function. It causes mistrust and division.”

“Collaborating in our democracy turns into exhausting and even disillusioning,” he continued. “And folks do not feel like they’ve a good shot. Now we have to remain engaged within the course of.”

In closing, Biden mirrored on his personal rise as a child from Scranton affected by a stutter to the nation’s highest workplace — one which he sought repeatedly throughout his 5 many years in politics and is leaving reluctantly after withdrawing from the 2024 marketing campaign amid Democrats’ doubts.

He described America’s promise as a “fixed wrestle.”

“A brief distance between peril and chance,” he stated. “However what I consider is the America of our desires is all the time nearer than we predict. And it is as much as us to make our desires come true.”

Finally, Biden asserted, it is going to be as much as the president, Congress, the courts and the American individuals to face as much as these with ill-intent.

“Now, it is your flip to face guard,” Biden stated. “Might you all be the keeper of the flame. Might you retain the religion. I like America, you like it, too.”