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Arguments have emerged from both sides of the political spectrum, highlighting that the deficit—a figure estimated to be between $1 trillion and $2.1 trillion—does not appear to be dramatically shrinking despite the proposed cuts in spending. A closer look reveals that the expenditures associated with Biden's policies, such as the Build Back Better plan and the New Green Deal, have remained largely intact, counterbalancing any reductions that may arise from the new budget.
Moreover, the proposed tax cuts could mean that the anticipated deficit reduction promised by the Trump administration may not materialize as quickly as hoped—or at all. Instead, these cuts suggest a future that could potentially aggravate budget shortfalls.