WHEN: TODAY, THURSDAY, JULY 28TH
WHERE: CNBC'S "SQUAWK BOX"
Following are excerpts from the unofficial transcript of a CNBC interview with Ken Langone, Invemed Associates Chairman & CEO, today on CNBC's "Squawk Box." All references must be sourced to CNBC.
Watch videos:
Ken Langone: Debt Ceiling Done Deal (http://video.cnbc.com/gallery/?video=3000035110)
The Road to a Downgrade (http://video.cnbc.com/gallery/?video=3000035652)
Langone: History Will Be Unkind to Obama (http://video.cnbc.com/gallery/?video=3000035653)
LANGONE ON OBAMA:
"THE THING I FEAR MOST ABOUT THE FUTURE OF AMERICA IS DIVIDE US, DIVIDE US WE ALL LOSE, AND THIS HAS GOT TO STOP, AND IF HE'S LISTENING OR IF ANY OF HIS PEOPLE ARE LISTENING, AND YOU CAN QUOTE EXACTLY FOR WHAT I SAY, HE IS NOT ACTING PRESIDENTIAL, HE'S BEHAVING IN A WAY DESIGNED IN MY OPINION TO DIVIDE US, TO MAKE US LOOK AT EACH OTHER WITH SKEPTICISM, WITH SUSPICION, THAT'S THE END OF AMERICA AS WE KNOW IT WHEN THAT HAPPENS, THE DEFICIT WE'RE GOING TO GET THROUGH, THE DEBT LIMIT- IT WILL ALL COME- THE DESTRUCTION HE HAS INFLICTED BECAUSE OF HIS BEHAVIOR WILL CARRY ON LONG AFTER WE'VE SETTLED THE DEBT LIMIT."
LANGONE ON THE DEBT CEILING:
"IT WILL BE TAKEN CARE OF- THE DEBT CEILING IS A DONE DEAL; THEY DON'T KNOW IT YET, AND THEY'VE GONE THROUGH THIS GRAND THEATER DOWN THERE, BUT WE HAVE TO DO IT, FOR OBVIOUS REASONS."
LANGONE ON THE STATES:
"WE ARE HEADED INTO A DOSE OF REALITY THAT WE'VE NEVER SEEN BEFORE; ONE OF THEM IS LOOK AT THE NUMBER OF STATES THAT ARE NOW LAYING PEOPLE OFF; CAUSE YOU KNOW WHAT- THEY CAN'T PRINT PAPER; AND THEIR DEBT LEVELS HAVE ALREADY BEEN DOWNGRADED IN MANY CASES."
LANGONE ON SOCIAL SECURITY:
"I SHOULD NOT GET SOCIAL SECURITY, I THINK IT'S A TRAVESTY FOR A MAN OF MY SUCCESS AND OF MY MEANS TO GET ANYTHING FROM THE FED GOVT, I THINK I SHOULD PAY MORE TAXES, IN BOTH CASES, BUT EVERYTHING THEY TAKE FROM ME- GO TO REDUCE THE DEBT."
LANGONE ON BETTER JOBS:
"WE AREN'T EDUCATING PEOPLE TO GO TO THE NEXT LEVEL, JACK WELCH MAKES A WONDERFUL POINT HE SAYS LOOK WE ARE TRADING MENIAL JOBS FOR BETTER JOBS THE PROBLEM IS WE AREN'T TRAINING ENOUGH PEOPLE TO TAKE ADVANTAGE OF THE BETTER JOBS."
LANGONE ON THE 2012 CAMPAIGN:
"I BELIEVE THIS PRESIDENT IS BEYOND HELP AND I'LL TELL YOU WHY, THIS IS RIGHT NOW WHAT WE ARE ENGAGED IN IS A POLITICAL CAMPAIGN, NOT A CAMPAIGN TO RAISE THE DEBT LIMIT, THIS IS THE BEGINNING OF THE 2012 PRESIDENTIAL ELECTION"
LANGONE ON OBAMA BEING BEYOND HELP:
I BELIEVE THIS PRESIDENT IS BEYOND HELP AND I'LL TELL YOU WHY, THIS IS RIGHT NOW WHAT WE ARE ENGAGED IN IS A POLITICAL CAMPAIGN, THE DAY YOU TAKE OVER YOU ARE PRESIDENT OF EVERY AMERICAN NO MATTER WHAT THEIR POLITICAL PERSUASION, NONE, HE IS BEHAVING LIKE WE GOTTA GET 'EM, WE GOTTA GET THESE FATCATS.
LANGONE ON TEACHERS:
"PAY TEACHERS AS MUCH AS YOU WANT; JUST GET THE RESULTS FOR WHAT YOU PAY."
LANGONE ON OBAMA REELECTION:
"I THINK THERE'S GREAT CHANCE THAT HE WILL WIN, I BELIEVE THAT, BECAUSE UNFORTUNATELY HE'S BEING, HE'S DOING WHAT THE POPULATION, HE'S SAYING THE RIGHT THINGS FOR THE VOTES, HE'S IN A CAMPAIGN MODE, HE'S BEEN IN A CAMPAIGN MODE SINCE THE DAY HE WAS SWORN IN."
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