Gutting spending and pulling funding will mean less regulation. This will be good in some cases and bad in others. The government will be offering less services to the citizenry (and alienry - spell check says that's not a word). As others have pointed out, the net effect will not move the needle wrt our massive budget deficit. At some point, people will start to notice that they're not getting the same benefit from the government that they've grown accustomed to.
I'm not saying that's a good or bad thing. Opinions will vary.
I'm not saying that's a good or bad thing. Opinions will vary.

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