Great question and I like the image. I have used this one myself several times to convey bipartisanship.
As a liberal, I like the idea of deficit reduction. I think there is a lot of waste in government that can be eliminated. Over-generous pensions have bankrupted states like Illinois, etc.
That said, Covid-19 has made it necessary at this moment to spend to stimulate the economy. I do support those stimulus efforts in general. They were overall better than bailouts in the past in their inclusion of direct payments to taxpayers and beefed-up unemployment benefits and such. However, the relief bills still could have been better-tailored to those who really need it. There was over $100+ billion earmarked for wealthy real estate developers for example.
https://www.commondreams.org/news/2020/04/14/analysis-reveals-rotten-un-american-giveaway-gop-buried-covid-19-relief-package
Bailouts for wealthy folks and giant corporations are just as favored by Republicans, if not more so. So, that particular fiscally conservative idea isn't necessarily a Republican one.