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Home Depot Co-founder Langone: I Pray Obama Is a One-Term President

Wednesday, 16 May 2012 11:55 AM

President Barack Obama should be a one-term president as his policies have failed to make fundamental improvements to the economy, says noted investor and Home Depot co-founder Ken Langone.

Under Obama, the government has spent hundreds of billions of dollars stimulating the economy. And while better than doing nothing, such measures haven't cultivated demand and more-lasting growth but have added to the country's debt burdens.

Furthermore, the Federal Reserve under Obama has injected trillions of dollars into the economy to stave off deflationary decline, a policy that has made no lasting improvements to the job market that they were designed to do.

Editor's Note: Obama Donor Banned This Video But You Can Watch it Here

"This president needs to go because he hasn't gotten the job done," Langone tells CNBC.

"At a point in time when we need leadership in areas beyond printing paper, create job growth. Look at Jack Welch. What this man did at General Electric is absolutely staggering," Langone adds.

"I'm praying to God that the president is a one-term president."

If one poll serves as an indication, Langone may get his wish.

A recent CBS News/New York Times poll finds 46 percent of registered voters say they would vote for Romney, while 43 percent say they would opt for Obama, CBS news reports.

A CBS News/New York Times poll in April put Obama and Romney locked in a dead heat, while February and March polls gave Obama an edge over Romney.

Romney leads among women voters in the poll as well, enjoying 46 percent support among women, while Obama stands at 44 percent.

"What women care about are the real issues — jobs, healthcare, and the debt," Romney supporter and Washington Republican Rep. Cathy McMorris Rodgers tells The Daily Caller.

"Romney has a positive message on these issues, and as today’s poll shows, women are rallying to it."

Returning to the future of the U.S., the country's best days do lie ahead, Langone says, despite rampant government spending and heavy-handed regulations.

The U.S. has shown a history of doing away with policies — and politicians — that don't foster an entrepreneurial spirit.

"Talking about America, let me tell you something right now — I am 100 percent invested," Langone tells CNBC's Squawk Box.

"Our best days as a nation are ahead of us. I'm talking about great days. We are a great nation. Every once in a while we get a little foolish and we do things and we get through it. We'll get through this."

Editor's Note: Obama Donor Banned This Video But You Can Watch it Here

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