For the monthly view, go to View | Current View | Customize Current View,
click the Other Settings button, and in the Month section, clear the checkbox
for "Compress weekend days".  (Note: In Outlook 2003, there's an extra menu
step -- it's View | Arrange By | Current View | Customize Current View.)

Unfortunately you cannot change the compression in Weekly view, or when you
print a Monthly view across two pages.  However, you might want to take a
look at some free Word templates that use your Outlook calendar data to
create a calendar in Word, which you can then customize to your liking.  I
personally use "My Outlook Calendar" and am very pleased with it.  Links to
these templates can be found here:

http://www.slipstick.com/addins/calendar.htm#print