In a veiled shot at GOP presidential front-runner Donald Trump, fellow billionaire Warren Buffett on Monday dismissed the real estate mogul's campaign slogan.

"There's no need to 'make America great again.' America is greater than it's ever been," Buffett said during a wide-ranging interview on CNBC's "Squawk Box." Buffett, a supporter of leading Democrat Hillary Clinton, said America is going to "become ever greater."

Appearing on Squawk Box from Omaha, Nebraska following the annual meeting of Berkshire Hathaway shareholders on Saturday, Buffett echoed his weekend comments that electing Trump or Clinton would not make or break the economy permanently.

"This country works. And it works in a way that blows the mind," Buffett said. "In the 20th century, the Dow went from 16 to 11,400. And we had two World Wars and a Great Depression. And we're just starting."

"Your children are going to live better than you if we elect three bad presidents in a row," he argued, but said the election is still "enormously important."

Both parties are facing voter anger over politics as usual, with Democrat presidential hopeful Bernie Sanders and Trump challenging the establishment. "It's one of the great protest votes of all time," Buffett said.

He believes the anger is rooted in the tough times many people faced during the 2008 financial crisis.