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“His Administra­tion will confront an economy that teeters on the brink of a new recession, suffers from high interest rates and a massive budget deficit and grows increasing­ly unstable and inefficien­t,” Newsweek wrote the week before Ronald Reagan took office. Similarly, the Biden administra­tion began with a COVID-19 related economic crisis and high federal debt and unemployme­nt numbers. A year into his term, Biden’s approval rating is low as Americans continue to confront not only an ongoing global pandemic, but also inflation as well as intense political polarizati­on.

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