A deficit isn't trouble unless it accumulates quite a bit, I'll also add that contrary to what Democrats say, we didn't magically get a deficit when Bush won the Whitehouse.
The idea behind tax cuts and spending is to not have a huge mountain of cash collecting dust in the treasury, you want it in the hands of your citizens, changing hands, exchanging goods. If you spend money right, you can make more money.
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"I went shopping last night at like 1am. The place was empty and this old woman just making polite conversation said to me, 'where is everyone??' I replied, 'In bed, same place you and I should be!' Took me ten minutes to figure out why she gave me a dirty look." --Some guy
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