'Soul of America at Stake': In Farewell Speech, Biden Warns of 'Ultra-Rich Oligarchs' Taking Over US Under Trump

Washington: Joe Biden , who assumed duties as the US President on January 20, 2021, is ready to vacate the position for Donald Trump , who will be replacing him in a few days. What may be his final opportunity to address his views and opinion about America, Biden gave his farewell speech to the nation and spoke about several issues concerning America's future. Key points of Biden's farewell speech…

Biden Farewell Speech: US President Warns of 'Ultra-Rich Oligarchs' Taking Over US

US President Joe Biden used his farewell address to the nation Wednesday to warn of an “oligarchy” of the ultra-wealthy taking root in the country and of a “tech-industrial complex” that is infringing on Americans' rights and the future of democracy.

Speaking from the Oval Office, Biden sounded alarm over an oligarchy he said "is taking shape in America.” Invoking President Dwight Eisenhower's warnings about the military-industrial complex when he left office, he added, “I'm equally concerned about the potential rise of a tech-industrial complex that could pose real dangers to our country as well." President Joe Biden delivered a farewell address to the nation Wednesday night, seizing what may be his final opportunity to reshape Americans' grim views on his term before he departs the White House.

His speech in the Oval Office is the latest in a series of remarks on domestic policy and foreign relations that are intended to cement his legacy. Earlier in the day, he heralded a long awaited ceasefire agreement between Israel and Hamas, which could end more than a year of bloodshed in the Middle East. “It will take time to feel the impact of all we've done together, but the seeds are planted and they'll grow and they'll bloom for decades to come," Biden said.

‘I Have Given My Heart And Soul To Our Nation’

“Nowhere else on Earth could a kid with a stutter from modest beginnings in Scranton, Pennsylvania, and Claymont, Delaware, one day sit behind the Resolute Desk in the Oval Office as President of the United States,” Biden wrote in his letter. “I have given my heart and my soul to our nation. And I have been blessed a million times in return with the love and support of the American people.”

‘Soul of America At Stake’: Joe Biden in Farewell Speech

But Biden isn't leaving the White House in the way that he hoped. He originally tried to run for reelection, brushing aside voters' concerns that he would be 86 years old at the end of a second term. After stumbling in a debate with Republican Donald Trump, Biden dropped out of the race under pressure from his own party.

He endorsed Vice President Kamala Harris , who lost to Trump in November. Now Biden is preparing to cede power to someone he's described as an existential threat to the country's democratic institutions.

He implicitly acknowledged that his promises remained unfulfilled in an open letter released Wednesday morning.

“I ran for president because I believed that the soul of America was at stake,” Biden wrote. “The very nature of who we are was at stake. And, that's still the case.” The rest of the letter emphasized his accomplishments, including guiding the country out of the coronavirus pandemic, supporting domestic manufacturing and limiting the cost of prescription drugs.

Joe Biden's Political Journey

The speech Wednesday night will cap not only Speaking about Joe Biden's political journey, he has been in politics for the last five decades and was once the country's youngest senator at 30 years old after being elected to represent his home state of Delaware in 1972.

Biden pursued the presidency in 1988 and 2008 before becoming Barack Obama's vice president. After serving two terms, Biden was considered to be retired from politics. But he returned to center stage as the unlikely Democratic nominee in 2020, successfully ousting Trump from the White House.

(Inputs from AP)