Sure, all you and the campaign says is true, but the public has found their 401k's bleeding and are looking for scalps. Simon makes a good scapegoat.
The better move would be an offense. Like find the people who can expose 'Gay' Davis and his drug running liberal buddies. Don't ya suppose Hindelang just might have some connections to Davis?
While Simon will need to increase the pro-Simon vote (as opposed to the anti-Davis vote), there is PLENTY of time to do that.
So don't count him down and out -- he's not. The campaign is being smart not to waste their money early on, which would jeopardize the last 2-3 weeks of the campaign.