In his farewell Oval Office speech, President Joe Biden delivered a stark warning about the growing influence of wealth and power in America, cautioning that an emerging oligarchy poses a direct threat to democracy.
With just days left before Donald Trump’s return to the White House, Biden used his final address to highlight the dangers of economic inequality, misinformation, and declining democratic institutions.
A Dire Warning for the Future
Biden, who has spent over 50 years in public service, began his speech by calling for unity, but his tone quickly shifted to urgency. “Today, an oligarchy is taking shape in America—one of extreme wealth, power, and influence. This threatens our democracy, our rights, and the basic fairness that allows every American a shot at success,” he stated.
The president also pointed to the dangers of a “tech-industrial complex” that enables misinformation and abuses of power, warning that a free press is “crumbling” under the weight of corporate control. His remarks come as media outlets struggle to compete with the growing influence of social media and billionaire-owned platforms.
Trump’s Return Overshadows Biden’s Legacy
Despite major legislative achievements, Biden’s legacy has been clouded by Trump’s resurgence. The 2024 election dealt a major blow to the Democratic Party, leaving them with little influence in Washington. Trump’s incoming administration has already signaled plans to reverse many of Biden’s policies, raising concerns about the future of U.S. governance.
Trump has appointed billionaire Elon Musk as a special adviser to cut government spending, a move that has sparked both praise and criticism. His cabinet picks include individuals committed to reshaping America’s global alliances and domestic policies, setting the stage for significant political upheaval.
Biden originally ran in 2020 as a transition figure, aiming to restore stability after Trump’s first term. However, his decision to seek reelection at 80 years old backfired. After a poor debate performance against Trump, Biden withdrew from the race in July, leaving Vice President Kamala Harris to lead a campaign that ultimately failed to secure a Democratic victory.
Economic Achievements and Political Divisions
While Biden’s presidency saw significant economic recovery—including infrastructure investments, a manufacturing resurgence, and climate change initiatives—his inability to bridge political divisions remains a sore point. His administration successfully navigated the COVID-19 crisis and avoided a predicted recession, yet inflation and high prices soured public perception.
Many Democrats now blame Biden’s reelection bid for their electoral losses, with former Obama adviser David Axelrod commenting, “Biden defeated Trump once and secured a historic presidency. But Trump’s return to power has overshadowed those achievements.”
Biden’s Final Message: Keep Fighting for Democracy
In a letter released earlier on Wednesday, Biden reflected on his presidency and urged Americans to remain committed to democratic values. “I ran for president because I believed the soul of America was at stake. That’s still the case,” he wrote, calling on citizens to defend equality, liberty, and justice.
A White House official emphasized that Biden’s legislative record—one of the most significant since Lyndon B. Johnson—will have long-term impacts. Senator Chris Coons, a close Biden ally, added, “He faced an economic crisis, a public health emergency, and an attack on democracy. His leadership helped the nation recover.”
Despite policy successes, Biden’s popularity suffered after the chaotic Afghanistan withdrawal and his handling of the Israel-Gaza conflict. Some analysts predict that history will view him as a transitional figure between two Trump presidencies.
As Trump prepares to take office once again, Biden’s warning about the erosion of democracy will likely remain a key part of his political legacy.
