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It Could Be a Long Election Night: Trump

Mladen Antonov | AFP | Getty Images

Regardless of the outcome of the tightly contested presidential election, real estate mogul Donald Trump told CNBC's "Squawk Box" on Tuesday that both sides will finally sit down and deal with the country's fiscal problems.

Trump is expecting a very close election. "This thing could go a long time before we find out who the winner is," he said. (Read More: Presidential Election 2012: 5 More Nail-Biters.)

He said Hurricane Sandy probably took away some of the Republicans' momentum because for most of last week no one was talking about President Obama's record. (Read More: Hurricane May Help Swing Election to Obama: Trump.)

"The people that are backing President Obama say he's going to win," Trump said. "The people that are backing Governor Romney are saying it's going to be a close election."

When the results are in, Trump expects the two sides to finally start working on the country's fiscal problems.

"I think that frankly at the end of this election, people are going to sit back and they're going to talk," Trump, a Romney supporter, said. "I think they're going to get along for at least a period of time, but there's tremendous divisiveness, tremendous division."

With the end of the Bush tax cuts looming and the economy still fragile, Trump said the two sides have a great point at which to negotiate some kind of compromise.

But politicians will need to put the good of the country above how their votes may impact their reelection chances, said Trump. "So many votes are based on how I am going to look and it's not for the good of the country," he said.

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