Biden takes sole credit for Israel-Hamas deal, warns of 'oligarchy' threatening democracy in farewell speech

President Biden delivered his farewell address to the nation Wednesday evening, taking a victory lap for the cease-fire deal between Israel and Hamas and warning Americans about an "oligarchy" in the U.S. that "threatens our entire democracy."

"My fellow Americans, I'm speaking to you tonight from the Oval Office. Before I begin, let me speak to important news from earlier today. After eight months of nonstop negotiation, my administration — by my administration — a cease-fire and hostage deal has been reached by Israel and Hamas, the elements of which I laid out in great detail in May of this year," Biden said in his opening remarks. 

"This plan was developed and negotiated by my team and will be largely implemented by the incoming administration. 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."