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On January 20, Joe Biden will walk into the White House as U.S. president facing an economic challenge much like the one he faced when he walked in 12 years ago as vice president. In January 2009, the unemployment rate in the country was 7.8 percent, and as of this writing, it was expected to be similar in January 2021. Then, as now, many small businesses had gone bankrupt, and entire sectors of the economy were severely damaged.


Furman, Jason. "The Crisis Opportunity: What It Will Take to Build Back a Better Economy." Foreign Affairs 100.1 (January/February 2021): 25-35.