What is "Fiscal Conservatism"?

I went to the Mike Huckabee campaign blog Mike Huckabee for President - Blogs - Romney is leaving race... to see what they were saying about Romney's departure, and for some reason, this comment jumped off the page (By the way, the campaign has officially said next to nothing about Romney's decision, but there are tons of comments.):

"Mike Huckabee is a true fiscal conservative."

It occurs to me that "fiscal conservative" means different things to different people.

In our family's finances, being "fiscally responsible" means spending less (or certainly not more than) what is coming in, right? But what about taking on the debt of a car loan or mortgage? Our family's income/revenue is the proper context for knowing how much debt is "safe," right?

I caught some of Dave Ramsey yesterday, and heard him counsel a caller that she and her husband needed to focus on increasing the income side of their ledger instead of just sitting tight and slowly paying off a debt . . . is that "Conservative"?

I perceive that--among the general population, the understanding of "fiscal Conservatism" is rather cloudy. When I use the term I have in mind small government (hence a small-er gov't budget) and low taxes, in sum supply-side economics, but I think others focus more on the balanced aspect of it and don't give much thought to where the money is coming from--as long as they perceive that it comes from someone else. Democrats have capitalized on this confusion in recent decades, seizing on the appearance that Reaganomics--in and of itself, is somehow fiscally irresponsible.

Another element of this issue that bears on the current campaign is that increasing spending on government programs--if existing spending is perceived to be too low, is not anathema to the average voter.

I suspect that Mike Huckabee's fiscal record in Arkansas (and McCain's reputation as attacking pork but not so much buying the supply-side argument) are having a significant impact on how the GOP race has played out. It will be interesting to see how the issue of "fiscal Conservatism" will play out in November.

Cross-posted at WisdomisVindicated.