Outgoing U.S. President Joe Biden delivered his final official address from the White House on Wednesday evening. In his speech, he warned of the dangers posed by “oligarchy” and “the accumulation of unchecked power in the hands of the wealthy.”
“Today, an oligarchy is emerging in America in the form of extreme wealth, power, and influence, and it threatens our democracy, our rights, and our freedoms,” said Biden, who will officially be replaced by President-elect Donald Trump on January 20.
Quoting Dwight Eisenhower’s statement about “the troubling rise of the military-industrial complex,” the current president expressed concern about “the rise of the tech-industrial complex, which could also pose dangers to the country.”
Biden raised the alarm at a time when some of America’s wealthiest individuals and tech giant owners have rallied around Trump, though he refrained from naming anyone specifically.
The outgoing president began his final address to the nation by commenting on the news of a ceasefire agreement between Israel and Hamas. He reiterated that “his administration achieved the agreement” he had mentioned back in May.
“But it will be implemented by the next administration, which is why I instructed my team to remain in contact with the incoming administration,” Biden stated, just hours after Trump credited himself with the deal. Israel and Hamas agreed to a ceasefire and a swap of Israeli hostages for Palestinian prisoners, set to take effect on Sunday.
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The Democrat, who has served over 50 years in politics as a senator, vice president, and president of the United States, reflected on the challenging period when he took office during the COVID-19 pandemic, as well as the economic recovery that followed.
“It will take time to feel the full effects of all that we have done, but the seeds are planted, and the fruits will be seen in the coming decades,” Biden said.
He highlighted that during his tenure, the “most significant gun safety law in 30 years” was passed, along with vital climate change regulations that ensure “there’s no longer a choice between economic progress and addressing climate change.” However, he warned against allowing profit motives to eliminate regulations critical for the future.
Biden also sounded the alarm about “the dangers of artificial intelligence” if left unregulated. He criticized social media platforms for removing fact-checking features.
Touching on domestic politics, he emphasized the need to protect institutions—including the presidency, Congress, courts, and free media—and urged them to resist “unchecked power” in the years to come.
He also called for a constitutional amendment to eliminate unlimited presidential immunity for actions committed while in office. The Supreme Court, in the case of Donald Trump’s indictment over the January 6, 2021, Capitol riot, ruled that he has partial immunity from prosecution.
Joe Biden leaves the White House under less-than-ideal circumstances, writes the Associated Press. His presidential campaign was cut short by a poor debate performance against Trump, leading to Vice President Kamala Harris taking his place.
Biden’s farewell speech was not just a summary of his presidency but a reflection on his decades-long political career. Once the youngest senator elected at the age of 30 to represent Delaware in 1972, Biden’s legacy was on full display.
The address in the Oval Office was attended by his wife Jill, son Hunter, and other family members, along with Vice President Kamala Harris and her husband, Doug Emhoff.
Biden expressed gratitude for serving alongside Kamala Harris, adding that she and her husband had become “part of the family.”
Biden’s Legacy
Biden leaves office with a 39% approval rating, according to Gallup. In his final weeks, he sought to solidify his legacy.
Thomas Schwartz, a presidential historian at Vanderbilt University, noted that Biden’s legacy will depend on how Trump governs in the next four years.
“If Trump turns out to be a disaster, whether through economic chaos or global conflict, Biden will be remembered more favorably,” Schwartz told Voice of America. “If Trump proves as dangerous to democratic norms as Biden and the Democrats have suggested, then Biden could be seen as prophetic.”
On the other hand, inheriting a strong economy and resolving America’s foreign issues gives Trump the potential to rank among presidents like Ronald Reagan, Schwartz added. In such a scenario, Biden’s legislative achievements may be remembered, but his presidency may not be viewed as fondly.
The White House also released a comprehensive report detailing the Biden-Harris administration’s accomplishments domestically and internationally.
The report highlighted “historic” economic progress, including the creation of 16.6 million jobs, a 12.6% GDP increase, and a 37% rise in average household wealth. It emphasized investments in infrastructure, clean energy, and semiconductors, as well as the Inflation Reduction Act.
The administration claimed to have rebuilt “a stronger, fairer economy” through targeted relief and equitable taxation, creating opportunities from the bottom up.
On foreign policy, the administration asserted that it is leaving the incoming Trump administration “with a strong hand.”
“We leave America with more friends and stronger alliances, with adversaries weaker and under pressure. An America that leads again, unites nations, sets the agenda, and brings others behind our plans and vision.”
When asked about his role post-presidency, Biden recently stated: “I won’t be out of sight or out of mind.”
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