The bizarre thing is that so many democrats are actually against this.... like who would ever be FOR wasteful government spending? The only charitable interpretation I can come up with is that they think that the right's definition of "waste" would mean cutting all the programs they like such as Pakistani Gender Studies.
I have my hopes up as it's absolutely critical for the future of the US economy to get spending under control and to start to chip away at the deficit (and at least stop the debt from growing so much). However I am not too hopeful as cutting all the government waste will still not be enough to balance the budget. They also would have to cut entitlement spending like Medicare, Medicaid, and Social Security which would be extremely unpopular, like election-losing unpopular, even if it is necessary. The choice is pretty much between cutting benefits and reducing inflation, or keeping the benefits while adding to inflationary pressure. Either way, young people will pay for it with reduced living standards one way or another.