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Wednesday, February 5, 2025

Biden warns of Trump-led ‘Oligarchy’ in somber farewell speech

President Joe Biden concluded his five-decade-long political career on Wednesday with a final speech from the Oval Office, reflecting on his legacy, which remains clouded by the failure to prevent Donald Trump’s return to the White House.

Biden began his address with a call for national unity but quickly warned about the dangerous concentration of wealth in the United States.

“Our system of separation of powers, checks and balances may not be perfect, but it has upheld our democracy for nearly 250 years, longer than any other nation in history attempting such a bold experiment,” Biden remarked.

He also pointed to the rise of a “tech industrial complex” that spreads an “avalanche of misinformation and disinformation, enabling the abuse of power,” adding that the free press is “crumbling.”

Biden will officially hand over power to Trump at noon on Monday (10 p.m. Pakistan time).

Trump has enlisted billionaire Elon Musk, who supported his election efforts, as a special adviser to help cut costs within the federal government.

This somber speech comes at a time when Biden’s Democratic Party holds little political leverage, and Trump has nominated a cabinet committed to reversing long-established U.S. alliances and governance practices.

Biden ran for president in 2020 as a transitional figure but, at the age of 80, opted for re-election, believing he was the only Democrat capable of defeating Trump. However, after a disastrous debate with Trump in July, Biden was forced out of the race. Many Democrats blamed him for their party’s November losses, especially after Vice President Kamala Harris’s campaign failed to secure key battleground states.

During his presidency, Biden oversaw the recovery from COVID-19, supported infrastructure projects, bolstered semiconductor manufacturing, and addressed climate change, all while striving to reduce inequality and invest in the future. Despite these efforts, he leaves behind a thriving economy but remains unable to unite the nation as he had hoped or prevent the erosion of democratic values globally. His primary political achievement—defeating Trump in 2020—now appears fleeting, as Trump returns to power, promising to undo much of Biden’s work.

David Axelrod, a former adviser to President Obama, commented, “All Joe Biden wanted was to be remembered for the great things he did for this country, but at least in the short term, they’ve been overshadowed by his ill-conceived decision to run.”

Biden himself addressed the ongoing challenges in a letter released by the White House, stating, “I ran for president because I believed that the soul of America was at stake. The very nature of who we are was at stake. And that’s still the case,” urging Americans to continue fighting for equality, liberty, and happiness.

A White House official remarked that legacies take time to form and that Biden’s significant legislative record, which rivals that of President Lyndon Johnson, will have lasting benefits over decades.

Senator Chris Coons, a close ally of Biden, highlighted the numerous crises the country faced when Biden took office in 2021, including the economic downturn, the pandemic, and the attack on the Capitol by Trump supporters. “The recovery from the pandemic has been his greatest accomplishment,” Coons said.

Despite the economic recovery and the distribution of COVID-19 vaccines, Biden faced public discontent over inflation and high prices, which negatively impacted his popularity.

Republicans capitalized on voter frustration, accusing Democrats of elitism and blaming immigration for high prices, despite the lack of supporting evidence.

Heidi Shierholz, president of the Economic Policy Institute, argued that while Biden’s administration made significant economic strides, reversing decades of rising inequality requires more than a few years of strong policy and economic recovery.

On the foreign policy front, Biden points to the unified Western response to Russia’s war with Ukraine, his efforts to strengthen alliances, and the U.S. withdrawal from Afghanistan as key achievements. However, the chaotic nature of the Afghanistan withdrawal in 2021, which resulted in the deaths of 13 U.S. soldiers, significantly damaged Biden’s popularity.

Biden’s firm support for Israel, which has resulted in thousands of Palestinian deaths in response to Hamas’s attacks, has also created divisions within the Democratic Party, further impacting his standing.

Vincent Rigby, a former senior national security adviser to Canadian Prime Minister Justin Trudeau, said, “Biden will be remembered as an ‘interlude’ president, a leader between two Trump presidencies. While he held the line, Trump is returning.”

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