United States: For decades, the left wing of the Democratic Party has sounded the alarm: America is heading toward an oligarchy, where a few billionaires hold the reins of wealth and political power. This week, President Joe Biden addressed these concerns for the first time from the Oval Office—just as he prepares to leave office.
His remarks stirred a mix of appreciation, bemusement, and also some frustration from progressives. “Now he tells us, “Tweeted Senator Sheldon Whitehouse, referencing Biden’s call for action on dark money, climate change, and Supreme Court reform. “I pressed four years for this speech.”
As reported by the Associate Press, until very recently — really for most of the last four years, progressive Democrats were some of Biden’s most ardent supporters. And many remain supportive.
Still for others, those words were not only late but were the words emanating from a Democratic president who has embraced big money as the party has demonized President-elect Donald Trump as being friendly with Musk and other wealthy power moguls.
The battle about the impact of billionaires in the USA political system could significantly affect policies resulting from Washington as well as the field in subsequent elections.
CNN – 1/16/2025 – discussing Biden's warning on oligarchy, will Trump's base leave him on his love of oligarchs, and should have Biden cultivated a closer relationship with Elon Musk pic.twitter.com/69jhbUuPs2
— CaseStudyQB – #ArmsEmbargoNOW (@CaseStudyQB) January 17, 2025
While Trump was all about the fighting spirit in the working population, the incoming Republican president is all set to bring together the wealthiest company of presidents ever. Musk has ensnared over a dozen billionaires in the government, such as the prime minister himself, who has a wealth of more than 400 billion dollars.
Trump will be inaugurated in January and Meta CEO Mark Zuckerberg, who is a democrat, is hosting a reception next week with billionaire republican donors for the inauguration.
Democrats seek to challenge Trump’s audience in blue-collar America by painting him as in thrall to the oligarchs and attempt to associate him with Musk, who supported Biden and his Democratic predecessor, Barack Obama.
The White House archives show that Biden had not used the word ‘oligarchy’ in relation to America politics up until this week. And yet he scheduled his last Oval Office address to be entirely about the billionaire’s dominance in U.S. politics.
‘Today, an oligarchy is emerging in America of extreme wealth, power and influence that poses an existential threat to our democracy, our rights, our freedoms, and our ability as a society to make sure everyone has a shot at the American dream’.
Leave a Reply