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Home » News » World News » Biden Warns of Oligarchy and Tech Threats in Farewell Speech
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Biden Warns of Oligarchy and Tech Threats in Farewell Speech

US President Joe Biden's farewell address highlights rising oligarchy and tech-industrial complex as threats to democracy and American values.
Mr. YashBy Mr. YashJanuary 16, 2025 9:07 AM ISTNo Comments3 Mins Read
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Joe Biden, in his farewell speech from the Oval Office last Wednesday, brought a sobering message about the current status of democracy in the US. Drawing on past warnings, Biden pointed to the increasing weight of the ultra-rich and the rise of a “tech-industrial complex,” which he characterized as risk factors to the nation’s democratic soul.

Warning of Oligarchy and Tech Dominance

Citing a growing increase in “oligarchy” composed of ultra-high-net-worth individuals, Biden in his address expressed concern over the recurrence of President Dwight Eisenhower’s wartime warning about the “military-industrial complex” in his own farewell address. Biden cautioned against the unchecked strength of a “tech-industrial complex” that could threaten the rights and democracy of the people, and advocatea for the safeguarding of these values.

Reflecting on Achievements and Unfinished Promises

In his address, Biden highlighted achievements of his administration and indicated that these achievements may not yet fully come to fruition. The seeds are sown, and they will blossom and grow for many years ahead, he said. Among his key accomplishments, he cited navigating the country through the COVID-19 pandemic, bolstering domestic manufacturing, and implementing measures to lower prescription drug costs.

“I believed that the soul of America was at stake. That’s still the case. Despite progress, challenges such as political polarization and threats to democratic institutions remain unresolved.

The Road to His Departure

Biden’s presidency is concluding under circumstances he did not anticipate. Initially seeking reelection, Biden faced mounting concerns about his age and performance. Following a tepid presidential debate against former President Donahue Trump, Biden dropped out of the race and endorsed Vice President Kamala Harris to fill his spot. Harris, however, was defeated by Trump in the November election, leaving Biden to hand over power to an individual he has described as a threat to democracy.

A Legacy of Service

Biden’s leaving is the conclusion of a political life, spanning five decades. From his election as the youngest U.S. senator in 1972 to serving as Barack Obama’s vice president and eventually becoming president in 2020, Biden’s journey reflects a commitment to public service. His presidency saw him rise from modest beginnings in Scranton, Pennsylvania, and Claymont, Delaware, to the pinnacle of American political power.

“I have given my heart and my soul to our nation. And I’ve been blessed a millionfold back.

Looking Ahead

Biden’s final address underscored the challenges facing the United States, particularly the preservation of democratic institutions. Walking away from the limelight, his message is at once a rumination upon his years of office and a mandate for future leaders to engage with the urgent challenges of inequality, corporate power and the defense of democracy.

Although President Biden’s tenure may have followed a different path, his closing speech reflected the long entanglement of a life mission with both service and democracy, and has yielded a legacy marked by perseverance and determination.

(Input from PTI)

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Mr. Yash is an editor, writer, and publisher at YPBB News, dedicated to delivering insightful and engaging content.

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