Biden warns of oligarchy threats in farewell address to the nation

In his farewell address on January 15, 2025, President Joe Biden warned of an emerging "oligarchy" of the ultra-wealthy and a "tech-industrial complex" threatening democracy. He compared these concerns to past warnings about the military-industrial complex. Biden's speech aimed to reshape public perception of his presidency as he prepares to leave office. He highlighted a recent ceasefire agreement between Israel and Hamas and reflected on his accomplishments, including pandemic recovery and prescription drug cost reductions. Biden's presidency ends after he dropped out of the 2024 election, endorsing Vice President Kamala Harris, who lost to Donald Trump. He acknowledged unfulfilled promises in an open letter, emphasizing his commitment to the nation throughout his political career.