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Billionaire Ken Langone: The grim reaper is not far away

Billionaire Republican Ken Langone warned on Tuesday the "grim reaper" is on the horizon, and he urged leaders in Washington to act on pressing issues facing Americans.

The Donald Trump supporter and co-founder of Home Depot told CNBC's "Closing Bell" one major problem is entitlements, which he said encompasses 71 percent of the federal budget.

"How the hell do you cut your budget deficit if you've got to work on only the 29 percent and let 71 percent continue to grow," he said.

"The fact of the matter is the grim reaper is not far away."

While Langone is hoping for a Trump presidency, he said there still may not be any movement if members of Congress lack courage.

"The issue is which elected official is going to have the political courage to do what's right as opposed to do what's good for him to get re-elected," he said.

He said as the campaign played out, concerns of Americans have been ignored.

"The tragedy of this election cycle, for the last two years, I don't know anybody else, I'm sick of it. I'm absolutely tired. And we've wasted two precious years when there are very serious problems and issues we have to address."