Jesse Watters: Biden could not be in a worse political situation

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'The Five' reacts to Biden's handling of inflation

'The Five' give their take on the baby formula shortage.

Jesse Watters reacted to the baby formula shortage on ‘The Five."

JESSE WATTERS: So, the Putin price hike is not working. The White House has a new line of attack. They need to sharpen the contrast with Republicans in the midterms. So, you're going to see Biden getting hyper partisan and just blaming everything on the right. The country's not buying it.  

BABY FORMULA SHORTAGE SENDS TENNESSEE MOM OF 8-MONTH-OLD INTO A 'PANIC': 'I BROKE DOWN' 

President Joe Biden delivers remarks on the debt ceiling during an event in the State Dining Room of the White House, Monday, Oct. 4 in Washington. (AP Photo/Evan Vucci)

We know we printed and spent way too much money. Fauci shut down the economy and we put all our supply chains in China, so when we opened back up, boom, the dollar got destroyed. Everybody that has common sense understands that, but Biden could not be in a worse political situation. You can't blame China, can't blame the Fed. So, this is on him right now. He's now having a looming global recession, a stock market that looks like it's kind of shaky, inflation at record high and now there are shortages of not only electricity, Greg, but baby formula and let me tell you, baby formula is very expensive.  

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The average family spends $1,500 a year on baby formula and so you have a baby formula recall happening at the same time as baby formula thievery because you can get a lot of money on the black market. People are making, I think, it was like $4,000 a week just stealing baby formula. They have to lock it up like they do toothpaste now at the Walgreens and so now they have Operation Milk Money where the feds have to go in and bust up these baby formula rings. It's a really, really sad situation. You know, if you're not breastfeeding, you'd be out of luck.