Biden Warns of “Oligarchy” as Trump Prepares to Take Office
In his final formal address as President of the United States, Joe Biden delivered a stark warning about the dangers of “oligarchy” and “extreme wealth” to American democracy, just days before Donald Trump is set to begin his second term, Al Jazeera reports.
“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 while speaking from the Oval Office on Wednesday night.
Biden’s message comes after Trump has announced an incoming administration that includes at least 11 billionaires, according to the Democratic Party, including Elon Musk, who Trump has designated to co-lead the newly created Department of Government Efficiency.
Biden cautioned against the “dangerous concentration of power in the hands of a few ultra-wealthy people,” and warned of “dangerous consequences if their abuse of power is left unchecked.” He also voiced concerns about “powerful forces” threatening to undo his administration’s climate achievements, noting the devastating wildfires currently raging in Los Angeles.
Gaza Ceasefire, Biden’s Legacy, Transition
Biden’s address also briefly touched on the newly announced ceasefire deal between Israel and Hamas in the Gaza Strip, an outcome that many observers noted had evaded the Biden administration for months despite widespread opposition to the war within the US Biden acknowledged that his team had negotiated the agreement, but stressed that he had instructed them to keep the incoming administration fully informed since they would be responsible for its implementation.
Despite claiming the ceasefire as an achievement of his presidency, it was noted that many voters in the 2024 presidential elections expressed their inability to support the Democratic Party due to Biden’s strong support for Israel’s war on Gaza. Biden’s decision to drop out of the presidential race after a poor performance in the first debate with Trump led to his Vice President, Kamala Harris, losing to Trump in the election.
Last Minute Policy Moves
In his final days in office, Biden has taken steps to enact policy initiatives that appear to preempt potential moves from the incoming Trump administration. He introduced a sweeping ban on offshore oil and natural gas drilling covering more than 625 million acres (253 million hectares), including the “entire US East Coast, the eastern Gulf of Mexico” and parts of the “Northern Bering Sea in Alaska”. This action is widely viewed as a counter to Trump’s campaign promise to immediately increase oil drilling, a policy he has dubbed “drill, baby, drill.”
“It will take time to feel the impact of all we’ve done together, but the seeds are planted, and they’ll grow, and they’ll bloom for decades to come,” Biden said in his farewell address.
