This is my take on a competitive control deck. I haven't brought it to a FNM yet, but have play tested against some of the most popular deck, and usually come out on top.
Bile Blight: good at taking out tokens, goblin rabble master, Mantis Rider and other aggro creatures.
Deicide
: Main board 1 just incase of a God, but also good enchantment removal, to take out Whip of Erebos, Courser of Kruphix and Doomwake Giant
Despise
: takes out threats before they come into play.
Disdainful Stroke: cheap spell during the long game
Dissolve: great counter, plus the scry is always nice
Divination: draw spell during the early turns, incase your out of ways to deal with creatures
Drown in Sorrow pretty much same as bile blight, but kills weaker guys, but more of them. great against Hornet Queen and Sidisi, Brood Tyrant
End Hostilities: Best sweeper in the format
Erase
Same as deicide
Jace's Ingenuity Best draw spell in this deck, because of the instant speed, allowing you to leave your mana up to counter.
[[murderous cut]: great creature removal, not hard to lessen the cost on it.
Nullify
Great counter, fantastic with so many enchantments running around
Pearl Lake Ancient best game ender for you, it can survive a wrath if you need it to.
Prognostic Sphinx
card advantage and a win condition
Silence the Believers good against Bestow and blue white enchantment
Treasure Cruise great draw spell, not hard to cheapen its price
Utter End destroys anything
Good thing to note, I have pulled and Elspeth so that is why she is is this deck list, and my friend traded me a jace so that is why they are here in a budget deck.
I'm bored so here is a list of what I sideboard in and out in key match ups.
U/W Heroic: Spot removal is bad here, due to the protection they have. Best options are to Drown in Sorrow or End Hostilities and then counter more threats. I would side in the
Erase
to deal with pesky enchantments and take out some spot removal. Also the Negate isrobably good here to counter a gods willing.
Abzan Midrange: this deck is well suited to deal with this deck. The enchantment hate gets rid of whip, courser, pharika, and any other enchantments they run. The Drown in Sorrow is probably not the best here, as it does not hit many threats. The best way to deal with this deck is take out Drown in Sorrow and put in more spot removal. Side back in the drown if they have hornet queen, or just use Bile Blight.
Sidisi Whip: I practically made this deck to deal with the whip deck. The enchantment hate removes courser, WHIP, Pharika and blossoms if they have it. The Drown in Sorrow wrecks hornet queen. You can use the End Hostilities if they somehow manage to build up a board state. Siding in Tormod's Crypt wrecks this deck. The spot removal can be used if you can't counter a sidisi.
Mono Red Aggro: Cheap sweepers are key in this matchup. The life gain from the lands is better to me than scrying, mainly because it allows you to take some hits before they really threaten you. Drown in Sorrow and Bile Blight are the key cards here. I would side out Disdainful Stroke in replace for more blight and drown. Soon after you repeatedly clear the board, you'll have so much card advantage, any threat they play will be dealt with.
Jeskai Burn/Tempo/Aggro: This is definitely the hardest matchup for this deck. After a few burn spells and a swiftspear spearing you, you are suceptible to being burnt out. However, Negate will help, but this will be a drastically easier matchup after the release of monastary siege. Making their burn cost 2 more slows them down to the point you can either counter it, or race it with Elspeth or a creature. Maybe after getting 2 sieges down, practically canceling out all attempts to burn you, or slowing it down, you can stabilize the board with bile and drown. I may put 1 negate mainboard, just to be fully prepared for this matchup. I'm not worried about Soulfire Grand Master because their life is no worry to you for the first 20 turns or so, and then, if necessary you can use Jace, the Living Guildpact to prevent yourself for milling out.
Mardu Midrange: pretty much deal with it the same way you would abzan midrange. Drown and bile them until you stabilize, then counter their spells. I would reccomend more bile blight and drown to deal with rabblemaster, and countering butcher or the hoard, then siding in more spot removal.
I purchased this deck (excluding some junk commons and the planeswalkers, which were not in the original version I made) for 23 DOLARS. I already 1 hostilities, some dual lands, nullify, bile blight, and the planeswalkers.
EDIT: I took the planeswalkers out of this list, for price sake, but if you have them. I run 1 Elspeth and 1 jace, guildpact. Take out 1 dissolve and 1 cut.