Sun Jan 19 15:20:00 UTC 2025: ## Biden’s Farewell Warning: Oligarchy Threatens American Democracy
**WASHINGTON, D.C. (AP) —** In his farewell address Wednesday, outgoing President Joe Biden issued a stark warning about the growing threat of oligarchy in the United States, a concern that has been met with mixed reactions from within the Democratic party. Biden, speaking from the Oval Office, declared that “a dangerous concentration of power in the hands of a few ultra-wealthy people” threatens American democracy, basic rights, and equal opportunity. This marked the first time Biden publicly used the term “oligarchy” in this context, according to White House archives.
The President’s statement came as President-elect Donald Trump prepares to assemble what many are calling the wealthiest administration in history. Trump’s cabinet includes over a dozen billionaires, including Elon Musk, the world’s richest man. This has fueled concerns among Democrats about the influence of big money in politics, particularly as Trump’s inauguration approaches.
While some Democrats lauded Biden’s address, others criticized the timing as too late, noting his administration’s acceptance of large donations. Senator Sheldon Whitehouse (D-RI) expressed frustration, stating he had been pushing for such a speech for four years. Nina Turner, a prominent figure in Senator Bernie Sanders’ campaigns, called Biden’s statement “cowardly,” arguing he had enabled the very system he now criticizes.
The White House defended the President’s remarks, emphasizing their alignment with efforts to improve working conditions and counter the influence of wealthy special interests. However, the debate highlights a growing divide within the Democratic party over the role of money in politics.
The issue extends beyond the incoming Trump administration. Tiffany Muller of End Citizens United highlighted the impact of the 2010 Supreme Court *Citizens United* ruling, which has allowed both parties to increase reliance on wealthy donors. Muller described Trump’s inauguration as “the beginning of an oligarchy.”
Senator Sanders, a long-time critic of oligarchy, echoed Biden’s concerns during the confirmation hearing for Trump’s nominee for Treasury Secretary, billionaire Scott Bessent. Sanders questioned Bessent about the implications of concentrated wealth and power.
The differing reactions underscore the complex and sensitive issue of billionaire influence in American politics, raising important questions about the future of policy and the upcoming election cycle. Democrats aim to portray Trump as beholden to wealthy donors, contrasting him with their claims to champion working-class interests. The debate is poised to shape the political landscape for years to come.
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