Sorry, but it's just not believable anymore. What matters is what is actually done, here and now. Deficits are terrible and need to be eliminated on grounds that they lead to inflation or higher taxes or both, and to massive instability. If the public funds government debt, private investment is crowded out and interest rates are driven higher than they need to be. But deficits are not all that's harmful.
Government spending itself causes economic damage.
Whether it's welfare or subsidies, foreign aid or foreign meddling, the economy suffers. Every dime the government spends siphons resources from the private economy. Deficit reduction is only an unalloyed good if the government's share of national wealth is on the decline. That's why Congress should reduce spending in a time frame it can actually control. Republicans should revisit the budget, and approve only those items that have a Constitutional justification.