The United States government collects money in the form of taxes, to "pay the Debts and provide for the common defence and general Welfare of the United States". That's a nice, vague, catch-all term, made deliberately vague by a group of men who wanted their government to be flexible enough to adapt to a number of future situations; the general point, though, is that there's a lot of United States, which means there's a lot of taxes and a lot of people who need their general welfare provided for...which means that there's a whole hell of a lot of money that the US collects and spends.
A small group of wealthy private citizens are bribing politicians (predominantly Republicans, although there are certainly a few guilty Democrats) to take a large chunk of that money and hand it over to those wealthy private citizens in the form of tax breaks, subsidies, and similar. The politicians then use the resultant budget deficit to justify cutting spending for the purposes that the money was originally collected for--in essence, looting the public treasury with both hands through the use of creative book-keeping. Those wealthy private citizens, in turn, skim off a chunk of the money that the Republicans have embezzled for them and pass it back to the politicians in the form of "campaign contributions", thus completing the circuit and starting the process again.
This is not fiscal responsibility. This is not austerity. This is not good governance. This is a small group of wealthy criminal masterminds who have figured out that if you make the laws, then what you're doing can't be considered illegal. The Republican party has been almost thoroughly co-opted by these crooks, and they are stealing from widows, orphans, the poor and the sick in order to get a cut of the loot. Don't listen to what they say--heck, don't listen to what I say, either. Follow the money, and look at where it goes and who it comes from. Because that's the only thing that really matters.