WASHINGTON – On Wednesday evening, President Joe Biden addressed the nation in a farewell speech, expressing that his time in office has been “the highest honor of my life,” while also cautioning against impending threats to democracy.

“The America of our dreams is always closer than we think,” Biden stated from the Oval Office. “It’s up to us to make our dreams a reality.”

His televised address came just days before he transitions out of office as President-elect Donald Trump prepares to return to the White House after defeating Biden’s vice president, Kamala Harris, in the November elections. Trump’s second inauguration is set for January 20.

Biden’s 13-minute speech served not only as his final words after four years in the presidency but also as a summary of his extensive public service career spanning over fifty years. Below are five important points from his address:

Biden announces Gaza ceasefire agreement

Biden’s presidency has largely revolved around international crises, particularly the ongoing conflicts in Ukraine and Gaza.

Just before his speech, Biden revealed a ceasefire and hostage-release agreement following over 15 months of conflict between Israel and the Palestinian militant group Hamas, which his administration coordinated alongside Qatar and Egypt.

Biden began his remarks by discussing this agreement, which he credited to eight months of continuous negotiations.

While the approach was crafted by his administration, he acknowledged that its implementation will fall to the incoming Trump administration. Biden expressed he had ensured his team kept Trump and his staff fully briefed about the agreement “because that’s how it should be – collaborating as Americans.”

He also celebrated that “Ukraine is still free” nearly three years after the Russian invasion. He added that NATO has been fortified and emphasized the advancements made against competition with China.

Biden highlights job growth and other successes

During his address, Biden took the opportunity to showcase what he believes are his key achievements domestically.

Upon taking office four years ago, the nation was grappling with the serious impacts of the COVID pandemic that devastated the economy, causing the loss of 22 million jobs due to widespread business shutdowns.

Through hard work and resilience, he asserted, the economy has rebounded, creating 17 million new jobs, with entrepreneurs and companies establishing new ventures and hiring American workers with American-made products.

“We’ve initiated a new age of American opportunities,” he remarked.

He pointed to efforts to modernize the country’s infrastructure, enhance high-speed internet access for rural communities, and invest billions in revitalizing semiconductor production within the U.S. He also highlighted measures empowering Medicare to negotiate lower prescription drug prices for seniors and the enactment of the most significant gun-safety legislation in three decades.

“It may take time to fully experience the effects of all we’ve accomplished together,” Biden mentioned, “but the groundwork is laid. And it will flourish and thrive for generations to come.”

Biden cautions against ‘oligarchy’ undermining democracy

While celebrating past gains, Biden also issued warnings about future threats, particularly regarding the emergence of a “tech industrial complex” and an uprisings of an “oligarchy” of immense wealth and influence that he believes endangers democracy.

He pointed out that misinformation is overwhelming Americans, facilitating the misuse of power. He noted a decline in the free press, while social media platforms are neglecting fact-checking responsibilities.

“The truth is suffocated by lies told in the interest of power and profit,” he stated, insisting that social media platforms need to be held accountable to protect families from power abuses.

Biden identified artificial intelligence as a significant technology of our era, warning of its potential risks to privacy and individual rights unless proper protections are established.

Furthermore, he warned against “dangerous concentrations of power” in the hands of a few affluent individuals who should be compelled to contribute their fair share of taxes and adhere to the same regulations as everyone else.

Biden advocates for a constitutional amendment

Although he did not name Trump directly, Biden urged the creation of a constitutional amendment to ensure that no president is above the law for crimes committed while in office.

In July, the Supreme Court ruled that presidents could not be prosecuted for “official acts” performed during their term, a decision stemming from the Justice Department’s case against Trump related to attempts to overturn the 2020 election results.

Trump, having faced impeachment twice during his first term, is the first former president with a criminal record after being convicted last year in New York on 34 felonies related to hush-money payments. He also faced felony charges concerning classified documents after leaving office and his part in the Capitol attack on January 6, 2021.

However, following Trump’s victory in November, a judge dismissed the election interference case, with special counsel Jack Smith adhering to the policy against prosecuting an incumbent president. Smith subsequently ended the classified document investigation, effectively closing the case.

Biden, however, asserted that presidential power is not “unlimited.”

“It’s not absolute, and it shouldn’t be,” he emphasized.

‘May you all be the keeper of the flame’

Throughout his presidency, Biden has consistently concluded his speeches with uplifting messages aimed at motivating Americans to strive for greatness.

“We are the United States of America – there is nothing, nothing, nothing beyond our reach when we unite,” he frequently declared.

For his concluding remarks on Wednesday, he opted for different phrasing, yet the essence remained similar.

After fifty years of public service, Biden expressed his unwavering faith in the ideals that define the nation, emphasizing the importance of robust institutions and the character of its citizens.

“Now it’s your responsibility to watch over these ideals,” he stated. “May you all be the keeper of the flame.”

“I love America,” he concluded. “You love it as well. … Thank you for this incredible honor.”

Michael Collins reports on the White House. Follow him on X @mcollinsNEWS.