Joe Biden’s final address to the nation carried a heavy warning. He spoke of the rising power of America’s ultra-wealthy and how an emerging oligarchy threatens US democracy.
The prime-time Oval Office speech came as Biden prepared to leave office. He handed the presidency back to Donald Trump, who returned to power after Biden’s dramatic retirement last summer.
“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.
He outlined his key concerns, including the “crumbling” free press and the growing influence of the military-industrial complex. Biden also stressed the dangers of rising disinformation and dark money in politics. He urged constitutional amendments to hold presidents accountable, arguing no leader should be immune from prosecution for crimes.
BREAKING: In his farewell address, President Joe Biden warns the nation about the dangers of an "ultrawealthy oligarchy" that must "pay their fair share of taxes."
— KanekoaTheGreat (@KanekoaTheGreat) January 16, 2025
However, just weeks ago, Biden granted his son, Hunter, an unprecedented decade-long pardon, shielding him from tax… pic.twitter.com/QPH8YRyRvd
Biden’s presidency began with the promise to restore America’s soul. However, it ended after a single term. He withdrew his re-election bid in July under pressure from his party, amid concerns over his age and fitness. Kamala Harris, his endorsed successor, lost to Trump in November.
Despite low approval ratings, Biden highlighted his legislative achievements. These included investments in infrastructure, clean energy, and reduced prescription drug costs. He also steered the nation through the pandemic’s aftermath and led major conservation and manufacturing efforts.
On his final day, Biden announced a breakthrough ceasefire between Israel and Hamas. The deal, first proposed last spring, could end a 15-month conflict in Gaza. “This plan was developed and negotiated by my team and will be largely implemented by the incoming administration,” Biden said. “That’s why I told my team to keep the incoming administration fully informed.”
Before the speech, Biden released a letter reflecting on his journey. “I have given my heart and my soul to our nation,” he wrote, recalling his rise from Scranton, Pennsylvania, to the presidency.
Biden defended his decision to withdraw from the race. He told donors he believed he “could have beaten Trump” but chose unity over personal ambition. He plans to stay politically active, recently saying, “I’m not going to be out of sight or out of mind.”