The global economic storm unleashed by a once-in-a-century pandemic and a brutal land war in Europe has caused three years of economic disruptions in the U.S. and around the world. These are turbulent times, but the policies of the Biden administration have propelled the American economy to one of the fastest recoveries in modern history. Because of President Biden’s plan, we have improved the economic well-being of American families and workers and strengthened the economy’s resilience in the face of significant global headwinds.
Since his first day in office, Mr. Biden’s goal has been to get the U.S. economy back on its feet and invest for the long term. In January 2021, the nation was facing some of the darkest days in its modern history. Approximately 3,000 Americans were dying from the novel coronavirus every day. The public-health crisis triggered an economic calamity, with millions of jobs lost and the country still haunted by fresh images of long lines outside food banks and unemployment offices. With the vaccines’ effectiveness untested, the country faced the tail risk of an economic downturn that matched the Great Depression.
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