In an alarming departure speech to the nation, Joe Biden repainted a disarrayed America, apparently on the verge of an ‘oligarchy’ of super-wealthy elites and a potentially threatening ‘tech-industrial complex’. In his last official act as President, he underlined a seeming accumulation of power and economy confined to a minor group of Americans. He tried to ward off ‘extreme wealth, power and influence’ of a supposed oligarchy, compromising ‘our entire democracy, our basic rights, and a fair opportunity for everyone to succeed.’ Alarmingly, he drew an ominous correlation to the ultra-wealthy and their unchecked power abuse repercussions.
Paralleling President Eisenhower’s admonishment of a military-industrial complex in 1961, Biden expressed equal worry about the emergence of a ‘tech-industrial complex’. In what can be interpreted as a desperate projection, Biden’s fervent rhetoric on a financial elite and tech-industrial complex marks his final attempt to leave some sort of imprint on the American populace. Meanwhile, the world’s technology giants and affluent figures continue to gravitate towards President-elect Donald Trump.
As though grasping at straws, Biden’s rhetoric from the Oval Office attempts to sculpt his legacy. He aspires to remold American perspectives on his term, disregarding his palpable unpopularity. The public, however, likely remain skeptic of his proclamations, many simply waiting for the transition of power towards President-elect Trump.
Earlier on the same day, he celebrated an armistice deal between Israel and Hamas, a footnote to more than a year of violence in the Middle East. ‘It’ll take time to feel the full impact of what we’ve done together but the seeds are planted and they’ll grow and they’ll bloom for decades to come,’ stated Biden. Too little, too late perhaps, as this comes at a time when many Americans question his tangible achievements.
Resorting to conventional liberal solutions, Biden has proposed changes to the tax code, targeting billionaires to ‘pay their fair share,’ ending the obscure flow of money into political campaigns, introducing 18-year term limits for Supreme Court members, and eliminating stock trading for Congress members. These shallow solutions seem like nothing more than tokens of populist sloganeering, unlikely to solve the entrenched issues he himself highlights.
It is damning that Federal Reserve data shows that the country’s top 0.1% have amassed wealth over five times more than that of the bottom 50% combined. It remains puzzling how it got to this extreme during Biden’s reign.
Reflecting on his political journey, Biden entered politics as America’s youngest senator at 30, after his election in 1972 to represent Delaware. However, his pursuit of the presidency in 1988 and even 2008 were futile endeavors. He disappeared entirely from the political sphere following his two terms, assumed to have retired.
Intriguingly, though fading away from the political domain, he made an unexpected return in 2020 as the nominee, and emerged from the White House. His recent course of action evidently misaligns with his previous retreat from the political world, unveiling an incoherence in his professional decisions.
While preaching about a peaceful transition of power, Biden also suggested a constitutional amendment to abolish immunity for sitting presidents. This recommendation follows a Supreme Court verdict granting extensive immunity from criminal liability to serving presidents.
In concluding his address, Biden reminded us of his infatuation with his own legacy, family and stickled for symbolic gestures. Sadly, he seems to have forgotten the same country that provided this opportunity is the one he’s left divided and uncertain.
Biden’s farewell address tells less of a legacy and more of a cautionary tale. His narrative woven around perilous accumulation of power and wealth by a select few, and the emergence of a ‘tech-industrial complex’, may align well with his theory, but the evidence suggests that similar patterns existed under his governance.
His rhetorical efforts do not erase the tangible failure on his part to resolve economic disparities and market monopolies, underlining the gaping holes in his presidency. These remain rooted and may continue to permeate long after he’s left office.
Essentially, his farewell seems less of a heartfelt goodbye to his countrymen, and more of a desperate effort to carve out a fading legacy. The tone is one of warning and uncertainty, rather than assurance and optimism, providing a concerning end-note to Biden’s political career.