Fiscal conservatism as was interpreted a few decades ago was actually pretty good. It wasn't flawless (trickle down was a disaster). But, overall, the concept of not spending too much, balancing the budget, encouraging work over handouts, shoring up SS and medicare, etc are all great concepts.
The problem is that "conservatives" today (if you can call them that anymore) don't interpret fiscal conservatism that way. They increase spending (see massive spending increases under the last few GOP presidents and even GOP controlled congresses) while cutting taxes (as if that will ever work when spending is up), trash the budget (see the debts racked up in the last few GOP presidents terms), block the government, slash handouts to the point that people can't work as they have no backup, and flat out ignore the SS and medicare problems (the real fiscal problem to focus on), while cheering about 0.01% cuts in the federal spending (ie planned parenthood and similar programs) pretending that they are fiscally conservative.
"Fiscal conservatism" was for the most part just propaganda, sort of like your company saying employees are it's greatest asset blahdy blah. If somebody believed it, great, but nobody who matters really gives a shit.
In effect, it was used to gut programs what spent much money on the ethnics, cut taxes at the top, and prop up white welfare (ie the military industry) to make up the vote deficit from the former. People sometimes feign surprise what the GOP "turned into", but it's always been what is was after the civil rights realignment.
