CNBC EXCERPTS: CNBC INTERVIEW: SAM ZELL, EQUITY GROUP INVESTMENTS LLC CHAIRMAN, ON CNBC'S "SQUAWK BOX" TODAY

Sam Zell
AP
Sam Zell

WHEN: Today, June 29th at 8AM ET

WHERE: CNBC's "Squawk Box"

Following are excerpts from the unofficial transcript of a CNBC interview with Sam Zell, Equity Group Investments LLC Chairman, today on CNBC's "Squawk Box."

All references must be sourced to CNBC.

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ZELL ON THE OLD GAME

ZELL: The old game was very simple, if you worked for the government you job security you got less and you got longer pensions and other benefits over the last 10-15 years that's been reversed

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ZELL ON PAY MY HEALTHCARE

ZELL: My life is not adjusted by inflation why should a pensioner position be adjusted by inflation why should I pay all my healthcare and guys in NJ pay none these are disparities that are society I don't think can survive

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ZELL ON JOB CREATION

ZELL: Unless we have a healthy economy we can't support public employment we have to get our economy back in line we have to focus on creating jobs and at least so far the programs of this administration seem to be focused on a lot of ideological issues and not a lot on jobs

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ZELL ON THE ECONOMY

ZELL: My judgment is the economy is growing the economy is growing slowly and I think it is being impacted by the storm clouds that are effecting decision making

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ZELL ON REGULATION

ZELL: The best thing that this government can do is to reduce regulation to reduce the impairment that people face when they are trying to in effect better themselves

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ZELL ON DISTRESSED DEBT

ZELL: Are emphasis in the US is in buying distressed debt we think that represents the best value out there

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ZELL ON MORE OPTIMISTIC

ZELL: I'm more optimistic about the housing market and more optimistic about the real estate market

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