By, Harold Hutchison, DCNF

Former presidential candidate Steve Forbes slammed President Joe Biden’s finger-pointing about the state of the American economy Friday, saying Biden was not on “planet Earth.”

“People wonder what planet he’s on,” Forbes said on “The Story” on Fox News Channel. “It’s not planet Earth right now and he needs to be brought down to earth and sadly it’s going to take an election to do it.”

The Bureau of Labor Statistics reported that the Consumer Price Index went up by 8.6% in the month of May, the highest in 40 years. Gas prices surged to over $5 a gallon according to GasBuddy.

“Today’s inflation report is a reminder that Americans’ budgets are being stretched by price increases and families are starting to feel the impacts of Putin’s price hike,” Biden said in March. The term has since been repeated in the media.

“Let’s be absolutely clear about why prices are high right now: COVID and Vladimir Putin,” Biden said in an April tweet.

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Experts have argued that the Biden administration’s hostility to fossil fuel production is responsible for the increase in energy prices across the board. The Biden administration canceled the sale of oil and gas leases in May and revoked the permit for the Keystone XL pipeline in January 2021.

“The president can complain and point the finger at Vladimir Putin or Covid or what he calls greedy companies, but poll after poll shows the American people overwhelmingly point the finger at this president and his administration,” Forbes said.

“You have an administration where you have nonmonetary factors causing inflation and making them worse,” Forbes said. “You have a Federal Reserve that is over $2 trillion overhanging the economy of excess money that they created last year. And so they’re like doctors 300 years ago. How did they treat patients? They bled them. They thought that cured the patient. Well, it got rid of the pain and suffering because it got rid of the patient.”

The White House did not immediately respond to a request for comment from The Daily Caller News Foundation.

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