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Welcome to today's edition of the Clay Travis and Buck Sexton Show podcast.

Second hour of the Clay Travis and Buck Sexton Show is going on now.

Thanks for being with us.

The economy is important to all of us and is certainly going to play a massive role in the upcoming election just a few months away now.

We want to bring on somebody who is legendary in the space, even does get a shout out in the fantastic Ferris Bueller's day off for his amazing curve.

Art Laffer of the Laffer Curve, former Reagan economic advisors with us now.

Art, great to talk to you again, sir.

Thank you very much, my pleasure, my pleasure.

Start with the big ones and we'll work down into some specifics here Art.

Are we in a recession? How bad is it going to get?

Well, CityCorp today said that their expectation was a 50% chance of getting in a recession.

And my comment on that was we had the first quarter was down GDP 1.6%.

The second quarter is already over and the estimate is that it's going to be down around 1.5%, which means we're already in a recession.

How can they ever say it's a 50% chance when this already happened?

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