[DemolitionRed]

Are you asking about general budget cuts in the future or specific cuts that are presently going on?

Are they good for the economy? When a countries debt reaches unsustainable levels and the government can no longer service that debt, anything that reduces that debt will help our economy in the long run.

Cutting MP's salaries and their benefits would be a good start.
Reducing tax evasion from the filthy rich would be beneficial to us all.
Cutting education and the health service shouldn't even be an option.