Biden: oligarchy is emerging in the US, its influence threatens American democracy

The growth of oligarchy in the United States threatens state democracy and the country's economy. This was reported by the current head of state Joe Biden on January 16 during his farewell address to the nation, which was broadcast on YouTube channel of the White House.

"Today, an oligarchy of extraordinary wealth, power and influence is forming in America, which literally threatens our entire democracy," the American leader said.

He specified that the well-being of the country is threatened, among other things, by the "potential growth of the technological-industrial complex." According to him, such a trend could threaten a "real danger" to the United States.

According to Biden, in order to prevent deterioration, some reforms should be made to the country's tax code and stop giving tax breaks to oligarchs. In addition, he urged the authorities to be more vigilant in monitoring "dark money" and hidden financing of the country's government

Earlier, January 14, it was reported that the majority of U.S. residents believe that during the activities of President Joe Biden, the situation in the field of economy, fighting crime in the country has deteriorated. According to a Gallup poll, 59% agreed that the economic situation has deteriorated, while 67% of Americans surveyed said that the situation with the national debt has worsened.

At the time, Russian Foreign Minister Sergei Lavrov said the legacy that President-elect Trump is receiving after the Biden administration is a tough one. According to Lavrov, Russia expects the new US administration to formulate its approaches to international affairs, adding that Trump has voiced such a desire.

Before that, on January 13, President Biden's job approval rating fell to 35.6%. It is noted that only 35.6% of the population approve of Biden's work as leader of the country, while 57.1% disapprove of his activities.