From the Republicans' "Pledge to America,", this year's severely marked-down sequel to the infamous 1994 "Contract with America":
"With common-sense exceptions for seniors, veterans, and our troops, we will roll back government spending to pre-stimulus, pre-bailout levels."
In other words, they're going to avoid touching all the main sources of high government spending and growth therein, while cutting taxes by trillions of dollars over the long haul and pretending that they are concerned about debt and deficits.
UPDATE: I mainly try to steer clear these days of overly strongly worded or emotional-sounding responses to Republican shenanigans, but why not let Andrew Sullivan do the honors:
"Given the gravity of the debt crisis, this is the most fiscally irresponsible document ever offered by the GOP. It is to the far right of Reagan, who raised taxes and eventually cut defense, and helped reform social security to ensure its longterm viability. It is an act of vandalism against the fiscal balance of the US, and in this global economic climate, a recipe for a double-dip recession and default. It is the opposite of responsible conservatism."