US President Joe Biden warned in his farewell speech about the "emerging oligarchy" in the US, a few days before the newly elected ex-president Donald Trump returns to the White House, Agence France-Presse and Reuters reported, quoted by BTA.
In this final address to the nation, the Democratic Party leader also warned of "dangerous concentration of power in the hands of a handful of ultra-rich people". This "threatens our entire democracy, our fundamental rights and freedoms, and the fair chance for progress for everyone," the president said in his farewell address from the Oval Office.
Biden began his speech with a familiar message - a call for Americans to unite - but quickly warned about the dangerous concentration of wealth in the United States.
"Our system of separation of powers, checks and balances may not be perfect, but it has sustained our democracy for nearly 250 years, longer than any other nation in history that has ever attempted such a bold experiment," Biden noted.
But he warned that the "tech industrial complex" is creating "an avalanche of misinformation and disinformation that allows for abuse of power", and free media is under threat.
Social media must be held accountable and safeguards must be put in place regarding artificial intelligence, Biden added.
He is expected to hand over power to Trump at noon on Monday. The newly elected president has brought in billionaire Elon Musk, who helped his election campaign, as a special adviser tasked with cutting federal government spending, AFP recalls.
In addition, the US president condemned in his speech the "powerful forces" that threaten progress in the fight against climate change.
Biden also called for a change to the US Constitution, limiting presidential immunity from criminal prosecution, the Associated Press notes.