Fact Check: America is becoming an oligarchy

Fact Check: "America is becoming an oligarchy"

What We Know

The claim that "America is becoming an oligarchy" has gained traction, particularly following remarks made by President Joe Biden during his farewell address on January 15, 2025. In this speech, Biden warned of a "dangerous concentration of power in the hands of very few ultrawealthy people," suggesting that such a trend threatens democracy and the rights of citizens (NPR, Reuters).

The term "oligarchy" traditionally refers to a form of government where power rests with a small number of people, often characterized by extreme wealth (PolitiFact). Scholars have noted that while the influence of wealthy individuals in American politics is not new, the current political landscape may reflect an unprecedented concentration of wealth and power (PolitiFact, Washington Monthly). For instance, the total net worth of billionaires involved in the Trump administration was reported to exceed $382 billion, highlighting a stark disparity compared to the average wealth of cabinet members in previous administrations (PolitiFact).

Analysis

The assertion that America is becoming an oligarchy is supported by various indicators of wealth concentration and political influence. Biden's warning aligns with observations from political scientists who argue that the increasing reliance on large donations from a small number of wealthy individuals for campaign financing is indicative of oligarchic characteristics (PolitiFact). Experts like Graeme Robertson from the University of North Carolina have pointed out that the current administration's ties to billionaires could lead to governance that serves the interests of the few rather than the broader population (PolitiFact).

However, the term "oligarchy" is complex and can be interpreted in multiple ways. Some scholars argue that while there are oligarchic traits emerging, it is not definitive to label the entire system as an oligarchy at this point (PolitiFact). Daniel Weiner from the Brennan Center emphasized that the term is more of a descriptor than a strict classification, suggesting that while the risks are real, the situation is nuanced and evolving (PolitiFact).

The sources used in this analysis, particularly NPR and PolitiFact, are reputable and provide a balanced view of the situation. NPR is known for its journalistic integrity, while PolitiFact specializes in fact-checking and political analysis, making them reliable sources for this topic.

Conclusion

The claim that "America is becoming an oligarchy" is Partially True. While there is substantial evidence indicating a growing concentration of wealth and political influence among a small elite, the situation is not entirely clear-cut. The nuances of political dynamics and the varying interpretations of what constitutes an "oligarchy" suggest that while the risk exists, it is not an absolute transformation of the American political system at this time.