WorldPosted at: Jan 16 2025 7:28PM

Biden warns in farewell speech that ‘oligarchy’ of ultra-rich threatens US democracy

Washington, Jan 16 (UNI) U.S. President Joe Biden used his farewell address to the nation on Wednesday to warn of an “oligarchy” of the ultra-wealthy taking root in the country and of a “tech-industrial complex” that is infringing on Americans’ rights and the future of democracy.
Speaking from the Oval Office as he prepares to hand over power on Monday to President-elect Donald Trump, Biden seized what is likely to be his final opportunity to address the country before he departs the White House to spotlight the accumulation of power and wealth in the U.S. among just a small few, Los Angeles Times reported.
“Today, 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,” Biden said, drawing attention to what he sees as “a dangerous concentration of power in the hands of a few ultra-wealthy people. Dangerous consequences if their abuse of power is left unchecked.”

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Tags: #Biden warns in farewell speech that ‘oligarchy’ of ultra-rich threatens US democracy

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SAN FRANCISCO, ARP 22 (UNI):- Union Minister for Finance and Corporate Affairs Nirmala Sitharaman attends Luncheon Roundtable with various pension fund managers and other institutional investors, in San Francisco, US. UNI PHOTO-14F

SAN FRANCISCO, ARP 22 (UNI):- Union Minister for Finance and Corporate Affairs Nirmala Sitharaman attends Luncheon Roundtable with various pension fund managers and other institutional investors, in San Francisco, US. UNI PHOTO-13F

SAN FRANCISCO, ARP 22 (UNI):- Union Minister for Finance and Corporate Affairs Nirmala Sitharaman attends Luncheon Roundtable with various pension fund managers and other institutional investors, in San Francisco, US. UNI PHOTO-12F

RAMBAN, APR 22 (UNI):-Travellers crossing over the debris of slides on Srinagar -Jammu national highway at Ramban that triggered due to heavy rains and cloudbursts on Sunday closed the road for the vehicular traffic for the third consecutive day on Tuesday. UNI PHOTO-12U

CALIFORNIA, APR 22 (UNI):-Union Minister for Finance and Corporate Affairs Nirmala Sitharaman at a fireside chat with Professor Steven J. Davis on Laying the foundations for a developed India 'ViksitBharat by 2047, at the Hoover Institution in California, US. UNI PHOTO-11F

RAMBAN, APR 22 (UNI):-Travellers crossing over the debris of slides on Srinagar -Jammu national highway at Ramban that triggered due to heavy rains and cloudbursts on Sunday closed the road for the vehicular traffic for the third consecutive day on Tuesday. UNI PHOTO-10U

RAMBAN, APR 22 (UNI):-Travellers crossing over the debris of slides on Srinagar -Jammu national highway at Ramban that triggered due to heavy rains and cloudbursts on Sunday closed the road for the vehicular traffic for the third consecutive day on Tuesday. UNI PHOTO-9U

CALIFORNIA, APR 22 (UNI):- Union Minister for Finance and Corporate Affairs Nirmala Sitharaman address on Laying the foundations for a developed India 'ViksitBharat by 2047, at the Hoover Institution in California, US. UNI PHOTO-9F

RAMBAN, APR 22 (UNI):-Travellers crossing over the debris of slides on Srinagar -Jammu national highway at Ramban that triggered due to heavy rains and cloudbursts on Sunday closed the road for the vehicular traffic for the third consecutive day on Tuesday. UNI PHOTO-8U

CALIFORNIA, APR 22 (UNI):- Union Minister for Finance and Corporate Affairs Nirmala Sitharaman address on Laying the foundations for a developed India 'ViksitBharat by 2047, at the Hoover Institution in California, US. UNI PHOTO-8F

RAMBAN, APR 22 (UNI):-Travellers crossing over the debris of slides on Srinagar -Jammu national highway at Ramban that triggered due to heavy rains and cloudbursts on Sunday closed the road for the vehicular traffic for the third consecutive day on Tuesday. UNI PHOTO-7U

RAMBAN, APR 22 (UNI):-Travellers crossing over the debris of slides on Srinagar -Jammu national highway at Ramban that triggered due to heavy rains and cloudbursts on Sunday closed the road for the vehicular traffic for the third consecutive day on Tuesday. UNI PHOTO-6U

RAMBAN, APR 22 (UNI):-Travellers crossing over the debris of slides on Srinagar -Jammu national highway at Ramban that triggered due to heavy rains and cloudbursts on Sunday closed the road for the vehicular traffic for the third consecutive day on Tuesday. UNI PHOTO-5U