In his farewell address, outgoing US President Joe Biden warned of a “dangerous concentration of power in the hands of a few very wealthy individuals.” He stated that “today, a plutocracy with extreme wealth, power, and influence is emerging in America, which is literally threatening our entire democracy, our fundamental rights and freedoms, and the fair chance for everyone to move forward.”
Biden recalled that the US had broken up corporate cartels over a century ago and that the wealthy were not punished but rather held to the same rules as everyone else. He emphasized the need to remove dark money, hidden behind many campaign donations, from politics. He also called for reforms, such as a term limit, at the Supreme Court and for members of Congress to be prohibited from trading stocks while in office.
The outgoing president also highlighted his climate policy as one of his greatest achievements, saying, “never has the existential threat of climate change been as clear as it is today. Look at the whole country, from California to North Carolina.” He added that the rest of the world is now trying to replicate his policies, stating, “it works, creates jobs, and future industries. We don’t have to choose between environmental protection and economic growth. We do both.”
Powerful forces are now trying to undo the steps taken to address the climate crisis in order to serve their own interests. Biden urged, “we must not let ourselves be driven to sacrifice the future, the future of our children and grandchildren.” He concluded, “it will take some time for the effects of our collective action to become fully apparent. But the seed has been sown, and it will grow and bloom over the decades to come.