President Biden Says Farewell

January 15, 2025 (Washington, DC)—Sitting behind the Resolute Desk in public for the last time, President Biden delivered his final address to the American people. What was striking about this very short speech was that it had minimal chest pumping. The President, rather, reminded us that this country, like the Statue of Liberty, “was built not by one person but by many people, from every background and from around the world.” He also charged us with making sure that we don’t buckle under the weight of the tech oligarchs, who are coming into power with Trump.

I want to warn the country of some things that give me great concern. And … that’s the dangerous concentration of power in the hands of very few ultra-wealthy people, and the dangerous consequences if their abuse of power is left unchecked.

Today, an oligarchy is taking shape in America of extreme wealth, power, and influence that literally threatens our entire democracy, our basic rights and freedoms, and a fair shot for everyone to get ahead.

We see the consequences all across America. And we’ve seen it before, more than a century ago. But the American people stood up to the robber barons back then and busted the trusts.

They didn’t punish the wealthy. They just made the wealthy … play by the rules everybody else had to. Workers won rights to earn their fair share. You know, they were dealt into the deal, and it helped put us on the path to building the largest middle class and the most prosperous century any nation the world has ever seen, and we’ve got to do that again….

… And in a democracy, there’s another danger to the concentration of power and wealth. It erodes a sense of unity and common purpose. It causes distrust and division. Participating in our democracy becomes exhausting and even disillusioning, and people don’t feel like they have a fair shot….

… Now it’s your turn to stand guard. May you all be the keeper of the flame. May you keep the faith.

For the transcript of President Biden’s full speech, go to Remarks by President Biden in a Farewell Address to the Nation or download the PDF version.