Try the above solution first, if it doesn't work try deleting files inside your Steam folder. Delete all the files except the "steamapps" folder (where all your games are located) and the Steam application (Steam.exe). After that, run Steam again, it will re-download all those files you've deleted. Sometimes the client becomes corrupt which prevents you from launching games.
Downside however is that if you have custom configs on games like CS:GO, TF2 etc, they will all be deleted so make sure to back those up first.
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