David Hopkins: “It’s true enough that Biden is currently outspending Trump on swing-state television. But these reports also suggest that Trump’s newly-installed campaign manager Bill Stepien has made the strategic decision to save money for a final barrage later in the race. Perhaps this choice is somewhat born of necessity; if the Trump campaign had no realistic limits on its financial resources, it would presumably be matching Biden right now. However, that doesn’t mean the strategy will fail. Trump had an overall financial disadvantage in his 2016 race against Hillary Clinton, but his campaign actually outspent hers on television ads from mid-October onward and received considerable last-minute help as well from Republican-aligned super PACs.”

“The articles are also peppered with examples of supposedly wasteful expenditures by the Trump campaign. But $150,000 for airplane-towed aerial banners or $100,000 for cell phone security containers, whatever their usefulness or lack thereof, are petty cash-level sums in an operation on track to raise and spend well over a billion dollars in total. These factoids must be viewed within a particular context: there has been a change in leadership within the campaign, and the current Stepien-led regime has every reason to plant unflattering tidbits in the press about the decisions made during the tenure of predecessor Brad Parscale. If Trump makes a comeback in the final weeks, Stepien and company will gladly take credit for turning around the ship; if Trump loses, they will be happy enough to suggest that Parscale left them an unsalvageable wreck.”