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USA. Biden in his farewell address to the nation: an oligarchy is being created in America that threatens the entire democracy

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US President Joe Biden, in his farewell address to the nation, warned that an oligarchy is forming in America that has enormous wealth, power and influence, which threatens American democracy and freedoms. Biden also called for constitutional amendments to take away presidents' immunity.

Warnings about threats to democracy were the main theme of the outgoing president's last address to the nation Joe Biden. He said that while he wishes the future administration well and has “no doubt that America is positioned to continue to be successful, he wants to warn the American people about things that cause him great concern.”

“There is a very dangerous concentration of power in the hands of just a few ultra-wealthy people and dangerous consequences if the abuse of power is left unchecked,” Biden said.

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“Today, an oligarchy of extreme wealth, power and influence is taking shape in America that poses a real threat to our entire democracy, our fundamental rights, freedoms and fair opportunities for success for all,” he added.

US President Joe BidenMANDEL NGAN/PAP/EPA

Biden: Americans are buried under an avalanche of misinformation

Although the president did not mention anyone by name, his words referred to, among others: to the influence of technology and social media billionaires. Biden compared the current situation to that at the turn of the 19th and 20th centuries and the power of monopolistic industrialists at that time, and referred to President Eisenhower's warning about the “military-industrial complex” and its influence on politics.

– Six decades later, I am equally concerned about the potential growth of the technological-industrial complex. It may also pose a real threat to our country. Americans are buried under an avalanche of misinformation that enables abuses of power. The free press is falling apart. Social media is giving up on fact-checking. The truth is suppressed by lies for power and profit, Biden said.

The outgoing president called for social media to be held accountable “to protect children, families and democracy.” He added that while the development of artificial intelligence presents great opportunities, it also “has great potential to threaten” our way of life, privacy, the way we work and how we protect the nation. At the same time, he added that it is all the more important “that America , and no China shaped artificial intelligence.

Biden called for a number of actions that would limit the concentration of power and limit the influence of the richest.

Among them, he mentioned reforms of the tax system, reforms of the election campaign financing law to get rid of “dark money”, limiting the lifetime terms of Supreme Court judges to 18 years, prohibiting congressmen from trading on the stock exchange and adopting a constitutional amendment abolishing the immunity granted to presidents by Supreme Courtto “make clear that no president has immunity from committing crimes while in office.”

Joe Biden and Jill BidenMANDEL NGAN/PAP/EPA

Biden: It's your turn to stand guard

In keeping with the tradition of farewell speeches by departing presidents, Biden briefly summarized the greatest achievements of his presidency, which included creating a record number of jobs, record investments in infrastructure and energy transition, enacting support for bringing the semiconductor industry to USAreducing drug costs, assistance Ukraine in defense against Russian attack and reinforcement NATO.

“It will take some time to see the full impact of what we have done together, but the seeds have been planted and will grow and spread for decades to come,” Biden said.

– I still believe in the idea behind this nation. A nation in which the strength of our institutions, the character of our people, matters must survive. Now it's your turn to stand guard. May you all be keepers of the flame, he concluded.

Main photo source: MANDEL NGAN/PAP/EPA



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