Biden expresses concern over concentration of power among small group

(MENAFN) In his farewell speech on Thursday, outgoing U.S. President Joe Biden expressed concern over the growing concentration of power and wealth among a small group of individuals. He highlighted that this concentration poses a serious threat to democracy, emphasizing that the U.S. system of checks and balances has been crucial in preserving Democratic values. Biden stated, "I am concerned about the dangerous concentration of power in the hands of a few wealthy individuals, as excessive wealth threatens our democracy." He also extended his best wishes to his successor, Donald Trump, who will take office on January 20.

The president noted the overwhelming influence of fake news on the American public and called for greater accountability from social media platforms. Biden reiterated the need to remove "dark money" from politics, further warning that the concentration of wealth jeopardizes the nation’s democratic foundation.

In his final address before passing the baton to Trump, Biden warned of the risk of an oligarchy forming in America, with power concentrated among a small, wealthy elite. He also raised concerns about powerful forces that could undermine progress made in combating climate change, cautioning that these forces threaten the achievements the nation has made in the fight against global warming.

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