Biden warns of billionaire influence as progressives express mixed reactions

President Joe Biden recently addressed concerns about the influence of billionaires in American politics, marking the first time he used the term "oligarchy" in this context. His remarks came just before leaving office, prompting mixed reactions from progressives. While some Democrats appreciated Biden's acknowledgment of the issue, others expressed frustration that he raised it only at the end of his presidency. Critics highlighted the Democratic Party's increasing reliance on wealthy donors, contrasting it with Biden's previous support for working-class issues. The debate over billionaire influence is expected to shape future political dynamics, especially with the incoming Republican administration, which includes numerous billionaires in key positions. Progressives are concerned about the implications for democracy and the political landscape.