please allow me..
there is no doubt that the tax cut is a net plus for the economy... already mentioned that...
now in terms of the deficit... the USD index basically has not moved since the election, so the deficit plus the Fed cuts have not weakened the dollar in any way... you know why? because we are barely keeping pace with the other central banks.
now, in Trump's mind, he might be looking for a much weaker dollar, say in the 2008 levels prior to the financial crisis.... it's a legit thought so as to make the US more competitive on exports.
deficit is the least problem for the US due to the reserve currency status. this is a unique situation in that when we print we dilute the entire world and make America stronger.... see what's happening since 2008? there is your proof... some crisis happens, we dilute, we recover, but the rest of the world recover much slower....
without the reserve currency status you don't have this benefit... Venezuela, Argentina etc, they dilute they kill their currency instantly.
an additional angle is - Obama also increased the deficit massively, but on a typical dems way - bigger government, more waste on social programs, illegal immigrants etc... plus the head wind of his energy policies and obamacare dead weight on businesses, that's why the obama recovery '09-16 felt so weak.
Trump's deficit increase is spent on MAGA - making the US more competitive with tax cuts, and more strong by beefing up the military.