Biden issues warning about 'oligarchy'
US President Joe Biden has cautioned citizens about the growing power of an “oligarchy” and the emergence of a “tech-industrial complex.” Read Full Article at RT.com
TroibNews 
In his farewell address, the outgoing US president drew parallels with President Eisenhower’s caution about the “military-industrial complex.”
US President Joe Biden has issued a warning to Americans regarding the increasing dominance of an “oligarchy” composed of ultra-wealthy individuals, along with a growing “tech-industrial complex.” He argues that these influences present an existential threat to democracy.
Delivering his remarks from the Oval Office on Wednesday, Biden stressed the importance of safeguarding fundamental rights and freedoms against the encroachments of wealth and power.
“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,” he stated.
Although Biden did not mention specific names, such as President-elect Donald Trump or tech leaders Elon Musk and Mark Zuckerberg, he raised concerns about the dangers associated with the concentration of political and technological power.
Referencing President Dwight D. Eisenhower’s 1961 warning, Biden expressed his concerns about a contemporary “tech-industrial complex” that could endanger the nation.
“Six decades later, I’m equally concerned about the potential rise of a tech-industrial complex. It could pose real dangers for our country as well,” Biden said.
He also pointed out that democratic institutions in the United States are facing challenges due to inadequate “fact-checking” and the proliferation of “misinformation” and “disinformation.”
“Americans are being buried under an avalanche of misinformation and disinformation, enabling the abuse of power. The free press is crumbling. Social media is giving up on fact-checking. The truth is smothered by lies told for power and for profit,” he stated.
“We must hold the social platforms accountable to protect our children, our families and our very democracy from the abuse of power,” he added.
The 82-year-old president, who has dedicated more than half of his life to public service, also advocated for political ethics, reform in campaign finance, and other measures to shield Americans from potential abuses by future politicians.
“We need to get dark money – that’s that hidden funding behind too many campaign contributions – out of our politics,” Biden emphasized. “We need to ban members of Congress from trading stock while they’re in Congress.”
Furthermore, he called for a constitutional amendment clarifying that no president is above the law regarding actions taken while in office and also suggested reforms to the Supreme Court.
Reflecting on his administration’s achievements, Biden highlighted the economic recovery post-pandemic, job creation, and investments in infrastructure and environmental initiatives. However, he recognized that the full impact of these efforts might take time to manifest.
“It will take time to feel the full impact of what we’ve done together. But the seeds are planted, and they’ll grow and bloom for decades to come,” Biden stated, as he prepares to transition the presidency to Trump on January 20.
Navid Kalantari contributed to this report for TROIB News
US President Joe Biden has issued a warning to Americans regarding the increasing dominance of an “oligarchy” composed of ultra-wealthy individuals, along with a growing “tech-industrial complex.” He argues that these influences present an existential threat to democracy.
Delivering his remarks from the Oval Office on Wednesday, Biden stressed the importance of safeguarding fundamental rights and freedoms against the encroachments of wealth and power.
“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,” he stated.
Although Biden did not mention specific names, such as President-elect Donald Trump or tech leaders Elon Musk and Mark Zuckerberg, he raised concerns about the dangers associated with the concentration of political and technological power.
Referencing President Dwight D. Eisenhower’s 1961 warning, Biden expressed his concerns about a contemporary “tech-industrial complex” that could endanger the nation.
“Six decades later, I’m equally concerned about the potential rise of a tech-industrial complex. It could pose real dangers for our country as well,” Biden said.
He also pointed out that democratic institutions in the United States are facing challenges due to inadequate “fact-checking” and the proliferation of “misinformation” and “disinformation.”
“Americans are being buried under an avalanche of misinformation and disinformation, enabling the abuse of power. The free press is crumbling. Social media is giving up on fact-checking. The truth is smothered by lies told for power and for profit,” he stated.
“We must hold the social platforms accountable to protect our children, our families and our very democracy from the abuse of power,” he added.
The 82-year-old president, who has dedicated more than half of his life to public service, also advocated for political ethics, reform in campaign finance, and other measures to shield Americans from potential abuses by future politicians.
“We need to get dark money – that’s that hidden funding behind too many campaign contributions – out of our politics,” Biden emphasized. “We need to ban members of Congress from trading stock while they’re in Congress.”
Furthermore, he called for a constitutional amendment clarifying that no president is above the law regarding actions taken while in office and also suggested reforms to the Supreme Court.
Reflecting on his administration’s achievements, Biden highlighted the economic recovery post-pandemic, job creation, and investments in infrastructure and environmental initiatives. However, he recognized that the full impact of these efforts might take time to manifest.
“It will take time to feel the full impact of what we’ve done together. But the seeds are planted, and they’ll grow and bloom for decades to come,” Biden stated, as he prepares to transition the presidency to Trump on January 20.
Navid Kalantari contributed to this report for TROIB News
