from Reuters
President Joe Biden said an oligarchy is forming in the U.S. that threatens democracy, issuing the bleak warning on Wednesday in his final Oval Office speech as he prepares to hand over power to Donald Trump next week.
Biden
opened his speech with a familiar message - asking Americans to join
together - but quickly warned about a dangerous concentration of wealth
in the United States.
"Today,
an oligarchy is taking shape in America of extreme wealth, power, and
influence that really threatens our entire democracy, our basic rights
and freedom, and a fair shot for everyone to get ahead," Biden said.
He
warned of a "tech industrial complex" that is bringing an "avalanche of
misinformation and disinformation, enabling the abuse of power." The
free press, he added, "is crumbling."
Biden's
farewell address, capping half a century in politics, sought to bolster
a legacy that has been overshadowed by Democrats' failure to stop the
Republican Trump from returning to the White House.
Trump, who takes office at noon (1700 GMT) on Monday, has enlisted billionaire Elon Musk, who helped his election efforts, as a special adviser charged with cutting costs from the federal government.
Trump
has nominated a slate of cabinet members who have pledged to upend
traditional American alliances and governing norms. The November 2024
election left the Democratic Party with little leverage in national
politics...
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