Ex-Obama adviser warns of a potential repeat of the financial crisis

Austan Goolsbee, is the former chair of the Council of Economic Advisors under U.S. President Barack Obama.

Joe Biden could inherit an even more disastrous economy than Barack Obama did when he won the White House during the 2008 financial meltdown.

"Whoever is coming in there in January 2021 might be facing worse conditions than in 2009, as hard as that is to believe," Austan Goolsbee, who helped guide Obama through the Great Recession, told CNN Business.

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