At the tail end of President Joe Biden’s time as president, his administration is celebrating the successful ceasefire and hostage deal between Israel and Hamas, which will hopefully bring a measure of peace to the region.

Many politicos credit President-elect Donald Trump for this win, saying he exerted pressure on American allies in the Middle East ahead of taking office.

But the Biden White House is adamant about taking credit, which he did during his last Oval Office speech as president Wednesday night. “This plan was developed and negotiated by my team, and will be largely implemented by the incoming administration,” said Biden.

“That’s why I told my team to keep the incoming administration fully informed, because that’s how it should be, working together as Americans,” he said.

During his address, Biden warned against oligarchy, which, he says, is “taking shape in America” and threatening democracy.

President Joe Biden speaks from the Oval Office of the White House as he gives his farewell address Wednesday, Jan. 15, 2025, in Washington. | Mandel Ngan

“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,” he said.

This marks Biden’s fifth and final address from the Oval Office.

“In the past four years, our democracy has held strong and every day I’ve kept my commitment to be president for all Americans for one of the toughest periods in our nation’s history,” Biden said. “I’ve had a great partner, Vice President Kamala Harris.”

President Joe Biden hugs Vice President Kamala Harris after giving his farewell address from the Oval Office of the White House Wednesday, Jan. 15, 2025, in Washington. | Mandel Ngan

During his remarks, Biden also called for reforming the tax code, saying billionaires shouldn’t get tax cuts, and instead, they should “pay their fair share.”

His remark about taxes earned him a few eye rolls from Republicans, including Rep. Nancy Mace. “He just mentioned the need to pay your ‘fair share’ of taxes — is he for real? Did he or Hunter Biden pay any taxes on the millions of dollars they earned through foreign business deals and trading on public office?” wrote Mace on social media. Hunter Biden was found guilty of evading $1.4 million in federal taxes, which he later repaid.

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Biden also called for a constitutional amendment to “make clear that no president, no president is immune from crimes that he or she commits while in office.” He referred to the limited presidential immunity the Supreme Court said should be afforded to those holding the office.

Biden’s letter to the nation

In a farewell letter released by the White House Wednesday morning, Biden wrote that it has been “the privilege of my life to serve this nation for over 50 years.”

“Nowhere else on Earth could a kid with a stutter from modest beginnings in Scranton, Pennsylvania, and Claymont, Delaware, one day sit behind the Resolute Desk in the Oval Office as President of the United States,” he added. “I have given my heart and my soul to our nation. And I have been blessed a million times in return with the love and support of the American people.”

Biden’s job approval ratings remain low amid his upcoming exit from the White House. According to CNN’s latest poll, released Wednesday, Biden’s only 36% of Americans say they approve of the job he’s doing, while 64% say they disapprove. Meanwhile, according to a Fox News poll, released Wednesday, “more voters view Trump’s victory as a referendum on President Biden and Vice President Kamala Harris’ policies and performance (54%) than a validation of Trump’s (41%).”

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In a post on X, former President Barack Obama thanked Biden, his former vice president, “for his leadership, his friendship, and his lifetime of service to this country we love,” crediting Biden for saving the economy.

“At a time when our economy was reeling, he drove what would become the world’s strongest recovery — with 17 million new jobs, historic wage gains, and lower health care costs,” he said.

Biden conveyed his deep appreciation for first lady Jill Biden, who joined him in the Oval Office. “My deepest appreciation to our amazing first lady with me in the Oval today, for our entire family, you’re the love of my life and the lives of my love,” he said. “My eternal thanks to you, the American people.”

From left, second gentleman Doug Emhoff, Vice President Kamala Harris, first lady Jill Biden, Hunter Biden and Melissa Cohen Biden, listen as President Joe Biden speaks from the Oval Office of the White House as he gives his farewell address Wednesday, Jan. 15, 2025, in Washington. | Mandel Ngan

In his concluding remarks, Biden said, “After 50 years of public service, I give you my word. I still believe in the idea for which this nation stands, nation where the strengths of our institutions and the character of our people matter and must endure. Now it’s your turn to stand guard.”

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