Look, this is the way it works with spending and deficits. The GOP tends to represent people who are well off. The dems tend to represent people who are less well off. Both parties would be happy if things got better for everyone. Naturally.
The GOP feels the solution is to make sure those on top get more, so as to simulate the economy in a trickle down/rising tide lifts all boats manner. Supply side. If they are right, great. If they are wrong, at least their people are better off.
The dems feel the solution is to make sure those below get more, so as to stimulate the economy from below through their increased spending. Demand side. If they are right, great. If they are wrong, at least their people are better off.
Democrats are the party of tax and spend. Republicans are the party of spend but don't tax. If their scheme doesn't work, we have deficits and have to reduce spending. How? Less defense spending? Get serious. Lordy, Lordy, it pains us, but we have to look at entitlements, which they didn't like at the beginning. Rather than eliminate them, let's figure out a way to, say let Social Security benefit finance or Medicare benefit insurance companies. Probably politically impossible, their think tanks still push the dream.
Strangely, the fiscally profligate liberals with all their handouts to the poor (what handouts?) seem to have been better recently at reducing the deficit. Note the deficit reduction in the Obama years and Clinton's balanced budget, for example. On the other hand, I am told that W was the first president in history to go to war while cutting taxes. If I am not mistaken, he resolved some of the bad financial optics by fighting the war off the books.
Name your poison. History since 1980 suggests that supply side doesn't work. But the GOP keeps on like Wyle E. Coyote, with their new and improved Acme Tax Plan. Beep beep.