The good news is that Republicans are at least serious about cutting non-defense discretionary spending back to 2008 levels. The better news is that the RSC has a plan to cut them back to 2006 levels after that.
I haven’t seen any evidence that the GOP is serious about tackling the entitlements and defense spending, but they’re talking a good game so far, and they will be wise to avoid an Obamacare-style overreach that backfires on them. That’s the tricky bit: They have to go relatively slowly, for political reasons, but they do not have forever, for economic reasons. The tools are all blunt-force implements, but the timing has to be exquisitely fine: juggling sledgehammers.