Biden’s Last Message to America Is a Dire Warning
Joe Biden told Americans to beware of the growing oligarchy in their country.
President Joe Biden used his farewell address Wednesday evening to tell Americans to stay involved, stay informed, and beware of the ominous cloud of “oligarchy” that in his eyes is now forming.
“I want to warn the country of some things that give me great concern. And that’s the dangerous concentration of power in the hands of a very few ultrawealthy people, and the dangerous consequences if their abuse of power is left unchecked,” Biden told America.
“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. We see the consequences all across America, and we’ve seen it before, more than a century ago. But the American people stood up to the robber barons back then, and busted the trusts. They didn’t punish the wealthy, they just made the wealthy play by the rules everybody else had to.”
While Biden tactfully communicated a fundamental truth and core party principle that’s been often overlooked, many felt that Biden delivering the message in the last gasps of his presidency was emblematic of his time in office: far too little, far too late.
“This is probably the most important speech Biden has made during his presidency—but who will hear or heed it now?” asked historian Simon Shama on X. “Against unelected billionaires and for the people ought to be the Democrats’ simple message going forward. Will they speak it?”
Others were much less favorable.
“In 2020, there was one person worth over $100 billion. Today at the end of Biden’s term there are 16 of them,” Matt Stoller of the American Economic Liberties Project wrote, with a meme captioned, “We’re all trying to find the guy who did this,” insinuating that Biden was indeed the “guy.”
“It kills me that this is the message Biden is delivering in his farewell address,” said Josh Miller-Lewis of A More Perfect Union. “Why wasn’t this delivered consistently for the last 4 years?”
“Biden’s Presidential Medal of Freedom awardees, with net worth, earlier this month: George Soros, $7 billion. David Rubenstein, $4 billion,” wrote ProPublica’s Alec MacGillis.
The ultrarich have been deeply involved with modern presidential politics, even when it’s a Democrat in office. But Trump, with his billionaire Cabinet, corporate hobnobbing, and backroom hotel business deals, is openly flaunting the oligarchy. Maybe Biden is longing for the subtlety of the past.