Scroll To Top
Politics

5 key takeaways from President Joe Biden's farewell speech

Joe Biden delivers farewell address
Mandel Ngan — Pool/Getty Images

Joe Biden delivers farewell address

Biden warned of the dangers of oligarchy and a new "tech-industrial complex," while urging Americans to stand guard.

trudestress

Support The Advocate
LGBTQ+ stories are more important than ever. Join us in fighting for our future. Support our journalism.

Without naming names, President Joe Biden, in his farewell address Wednesday night from the Oval Office, warned of the dangers of oligarchy, unchecked power, and a new “tech-industrial complex.”

Keep up with the latest in LGBTQ+ news and politics. Sign up for The Advocate's email newsletter.

Biden also talked about his administration’s accomplishments, including the cease-fire deal between Israel and Hamas. His team will keep the incoming administration fully informed about the process, he said.

Here are five key takeaways from Biden’s speech, as he prepares to leave office Monday, when Donald Trump will be sworn in. Trump has expressed disrespect for some American institutions and vowed to take action against his political opponents.

An oligarchy is rising

“I want to warn the country of some things that give me great concern. And this is a dangerous concern. And that’s the dangerous concentration of power in the hands of a very few ultrawealthy people,” Biden said.

“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,” he continued.

“A century ago, America stood up to the robber barons … they didn’t punish the wealthy, they just made the wealthy play by the rules everybody else had to,” he added.

Trending stories

Again, he didn’t name names, but it was not hard to think of Elon Musk, Jeff Bezos, and Mark Zuckerberg as Biden spoke.

And about Zuckerberg ...

Biden lamented “an avalanche of misinformation and disinformation” on social media, “enabling the abuse of power.” He recalled President Dwight Eisenhower’s warning about a “military-industrial complex” as he left office in 1961 and said, “I’m equally concerned about the potential rise of a tech-industrial complex that could pose real dangers for our country as well.” He noted that “the free press is crumbling;, editors are disappearing.”

“Social media is giving up on fact checking,” he said, a pointed reference to the end of fact checking at Facebook and Instagram, platforms run by Zuckerberg. “The truth is smothered by lies told for power and for profit. We must hold the social platforms accountable to protect our children, our families, and our very democracy from the abuse of power.”

He added that artificial intelligence poses both possibilities and risks, and that it must be handled carefully. “America, not China, should lead the world” in artificial intelligence, he said.

No one should be above the law

“We need to amend the Constitution to make clear that no president, no president, is immune from crimes he or she commits while in office,” Biden said. “The president’s power is not unlimited. It’s not absolute. And it shouldn’t be.”

The U.S. Supreme Court ruled last summer that granted presidents immunity from prosecution for acts committed within their official duties. Trump had petitioned the court to avoid prosecution for his efforts to stay in office after losing the 2020 election to Biden.

Biden further noted that American democratic institutions and the system of checks and balances should be respected.

“After 50 years at the center of all of this, I know that believing in the idea of America means respecting the institutions that govern a free society — the presidency, the Congress, the courts, a free and independent press,” he said.

“Our system of separation of powers, checks and balances, it may not be perfect, but it’s maintained our democracy for nearly 250 years, longer than any other nation in history that’s ever tried such a bold experiment,” he continued.

His administration's accomplishments

"Together we launched a new era of American possibilities,” Biden said.

“It will take time to feel the full impact of what we’ve done together,” he noted. “But the seeds are planted, and they’ll grow, and they’ll bloom for decades to come.”

This includes his infrastructure bill and the Inflation Reduction Act, the latter of which contained “the most significant piece of climate change and green energy legislation” in history, he said. But “powerful forces want to eliminate the steps we’ve taken to combat the climate crisis,” he warned.

He also touted bringing jobs back from overseas, giving Medicare the power to negotiate drug prices, and bringing violent crime to a 50-year low.

It's up to us now

Biden’s speech contained several references to the Statue of Liberty, including to the Vietnam vet who changed the light bulbs in the statue’s torch for years. This man was known as the “keeper of the flame.”

“Every time I pass Statue of Liberty, it reminds me of the possibilities of our nation,” Biden said, adding that there’s “a short distance between peril and possibility.”

“Now it’s your turn to stand guard,” he said, after expressing his gratitude to public servants and first responders and his love for his family — and Vice President Kamala Harris, who he said has become like family. “May you all be the keeper of the flame. May you keep the faith. I love America. You love it too. God bless you all. And may God protect our troops. Thank you for this great honor.”

Recommended Stories for You

trudestress
LGBTQ Task ForceOut / Advocate Magazine - Jonathan Groff & Wayne Brady

From our Sponsors

Most Popular

Latest Stories