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CNBC EXCERPTS: CNBC’S BECKY QUICK SITS DOWN WITH CLINT EASTWOOD TOMORROW ON CNBC’S “SQUAWK BOX”

When: Tomorrow, Friday, February 10th

Where: CNBC’s “Squawk Box

Following are excerpts from the unofficial transcript of a CNBC EXCLUSIVE interview with Clint Eastwood in a special edition of “Squawk Box” (M-F, 6-9AM ET) live from Pebble Beach, in his first interview since the Super Bowl. An excerpt of the interview will air tonight, Thursday, February 9th, on CNBC’s “The Kudlow Report” (M-F, 7-8PM ET) and tomorrow, Friday, February 10th, on "Squawk Box" and throughout CNBC’s Business Day Programming. All references must be sourced to CNBC.

EASTWOOD ON HALFTIME IN AMERICA:

EASTWOOD: THE AVERAGE MAN AND WOMAN ON THE STREET TOOK IT EXACTLY FOR WHAT IT WAS. AND IT'S THE CORE MESSAGE FOR AMERICA. IT'S HALFWAY THROUGH THE RECESSION, LET'S WORK OUR WAY OUT OF IT. IT DOESN'T MEAN ANYBODY'S ENDORSING ANYONE OR ANY PARTICULAR PRODUCT OR PARTICULAR PHILOSOPHY. I'M SURPRISED AT THE PEOPLE WHO ARE SUPPOSED TO BE INTELLIGENT HAVE INTERPRETED IT OTHERWISE BECAUSE IT'S VERY DISAPPOINTING TO SEE THAT BECAUSE THE AVERAGE PERSON SEEMS TO GET IT.

QUICK: THE MESSAGE, YOU WERE PRETTY HEAVILY INVOLVED IN THE WRITING THIS, AND ACTUALLY IN THE MESSAGE THAT WAS SENT ACROSS.

EASTWOOD: YES I JUST WANTED IT TO BE JUST WHAT IT WAS. A MESSAGE FOR THE COUNTRY. I’VE GOT TO GIVE CHRYSLER A LOT OF CREDIT BECAUSE IT WAS A VERY EXPENSIVE BUY ON THE SUPER BOWL AND THEY WERE WILLING NOT TO HAVE AUTOMOBILES FLOATING BY EVERY SECOND AND AUTO PRICES AND MOST OTHER THINGS CAR COMPANIES ARE INVOLVED IT. AND THEY JUST PUT THEIR LOGO IN AT THE END AND THAT WAS FINE BY ME AND IT'S A ONE TIME ONLY DEAL. SO I’VE GOT TO GIVE THEM A LOT OF CREDIT FOR WANTING TO DO SOMETHING LIKE THAT. BECAUSE MOST COMPANIES WHEN THEY SPEND THAT KIND OF MONEY ON A TIME BUY THEY WANT TO GET AS MUCH MILEAGE AS THEY CAN FROM IT.

QUICK: THE MESSAGE YOU SENT ACROSS, WAS PRETTY BASIC. THAT THIS COUNTRY IS STARTING TO TURN THINGS AROUND AND WE NEED TO MAKE SURE AS A COUNTRY THAT WE CAN DO IT. CAN YOU TALK MORE ABOUT WHAT YOU SEE IN THE COUNTRY RIGHT NOW?

EASTWOOD: WELL IT'S THE SAME THING. WE'VE BEEN IN A RECESSION FOR QUITE A WHILE NOW. AND, I'VE SEEN A LOT OF THOSE. I WAS BORN ON THE YEAR OF THE GREAT DEPRESSION., THE NOT SO GREAT DEPRESSION. BUT SO WE'VE SEEN A LOT OF THOSE. I THINK WE'VE JUST GOT TO KEEP IT GOING. UNFORTUNATELY IN THE PAST COUPLE OF YEARS WE'VE BEEN SPENDING WAY OUT OF CONTROL. SO WE HAVE TO KIND OF GET THAT BACK IN. BUT GETTING BACK TO YOUR QUESTION, ABOUT THE POLITICAL ASPECT, NO ONE WAS ENDORSING BAILOUTS OR ANYTHING LIKE THAT. IT WAS ALL SUPPOSITION, SOMEONE DAYDREAMING OUT THERE. AND THERE ARE SOME PEOPLE WHO MAKE IT POLITICAL ELEMENT ABOUT EVERYTHING YOU TALK ABOUT FROM EVERYTHING TO WHERE YOU'RE DINING TONIGHT OR WHAT ON.

EASTWOOD ON GOVERNMENT SPENDING:

QUICK: BUT YOU DO THINK SPENDING IN THIS COUNTRY IS ONE THING WE NEED TO FOCUS ON?

EASTWOOD: ABSOLUTELY.. THE LAST COUPLE OF REGIMES HAVE PUT US DEEP IN THE HOLE.. I DON’T KNOW WHY, ITS SUCH A BASIC THING.. YOUR PARENT ALWAYS TELL YOU IF YOU DON’T HAVE A DOLLAR IN YOUR POCKET YOU DOWN SPEND 2-DOLLARS.. AND THAT’S A BASIC PHILOSOPHY OF LIFE.. BUT SOME PEOPLE THINK YOU CAN PUT IT OFF.. IF YOU PUT IT OFF THEY PRINT MONEY, THAT MEANS THE MONEY IN YOUR POCKET IS DEVALUED AND ITS NOT WORTH AS MUCH AND COMES DOWN TO ZERO.

QUICK: HAVE YOU SEEN SIMPSON-BOWLES AND SOME OF THE IDEAS THAT THEY PUT FORTH?

EASTWOOD: YEAH I LIKE THE IDEA. I WAS KIND OF AMAZED THAT THEY TOOK SIMPSON-BOWLES AND ASSIGNED THEM THIS RESEARCH AND THEY COME BACK WITH A RECOMMENDATION WHICH WAS EXACTLY STOP SPENDING. AND THAT EVERYONE SAID – THAT’S ENOUGH FROM YOU GUYS. GO HOME. AND I THOUGHT, THAT’S A WASTE OF TIME, WASTE OF MONEY, WASTE OF EFFORT FROM EVERYBODY. WASN’T VERY SPIRITED FOR THE COUNTRY WHEN THEY SEE THAT. I THINK SIMPSON - BOTH THOSE GENTLEMAN ARE SMART AND WORTH LISTENING TO… IF YOU GO AHEAD AND ASSIGNED THEM THIS PROJECT.

QUICK: THEY SPENT SOME SERIOUS TIME…AND BEHIND THE SCENES THEY ARE BOTH UPSET.

EASTWOOD: DISENCHANTED. SURE. I HEARD BOB SIMPSON SPEAK ON THAT. HE’S QUITE A HUMOROUS MAN. HE DOES A HUMOROUS TALK ON HOW IT WENT AND HOW IT CONCLUDED.

QUICK: THERE HAVE BEEN CEOs THAT WE'VE TALKED TO ON SQUAWK BOX WHO HAVE SAID THEY WOULD LIKE TO SEE A RESURGENCE OF THIS (SIMPSON BOWLES) BUT IT SOUNDS LIKE YOU'RE THROWING SUPPORT AROUND IT TOO.

EASTWOOD: OH ABSOLUTELY. I DON'T KNOW WHY THE CURRENT ADMINISTRATION ASSIGNED THEM TO IT IF THEY WEREN'T GOING TO PAY ANY ATTENTION TO IT. OTHERWISE, THEY'RE JUST WAITING TO HEAR WHAT THEY WANT TO HEAR. THEY CAN ALWAYS GET PEOPLE TO DO THAT. ONE IS A DEM ONE IS A REPUBLICAN AND THEY BOTH CAME TO ONE CONCLUSION.

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