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Biden Reflects on Legacy and Warns of Growing Oligarchy in Farewell Address

In his farewell address from the Oval Office, President Joe Biden reflected on his decades-long political career, celebrated his administration’s achievements, and issued a stark warning about the concentration of power among the nation’s wealthiest. As he prepares to transfer power to President-elect Donald Trump, Biden emphasized the resilience of American democracy during his tenure.

“I’m proud of what we’ve accomplished together,” Biden said, speaking from behind the Resolute Desk. “From recovering from the coronavirus pandemic to making historic investments in infrastructure and addressing climate change, we’ve navigated one of the toughest periods in our nation’s history.” He also acknowledged Vice President Kamala Harris as a key partner in these efforts.

Biden expressed deep concern about the growing influence of an economic elite, cautioning that it poses a serious threat to democracy.
“An oligarchy of extreme wealth, power, and influence is emerging in America,” he warned. “It threatens not just our democracy but the fundamental rights and freedoms of everyday Americans.”

The outgoing president highlighted his administration’s successes, including a recently brokered ceasefire and hostage release agreement between Israel and Hamas, achieved just days before leaving office. Biden described the negotiations as among the most challenging of his career but expressed satisfaction with the outcome.

He praised the incoming Trump administration for its willingness to collaborate on the agreement’s implementation, stating, “That’s how it should be, working together.”

As Biden prepares to leave the White House, he has taken time to reflect on both his foreign policy contributions and domestic accomplishments, framing them as foundational steps toward a stronger and more inclusive America.

“Over these four years, our democracy has held strong,” Biden said, concluding his remarks with a hopeful tone while acknowledging the challenges that lie ahead for the nation.

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