I find this line of thinking odd because the deficit increases the fastest when you have Republicans in the White House and Congress. That's been the case since the 1980's. The deficit has decreased under the current administration (not because of any particular policy really, and it would have decreased faster without the infrastructure bill, but the point being that the last administration, had a far more "liberal" fiscal policy than the current one).
As far as finances goes... the stock market is starting to approach rational valuations. Typically, the mean PE ratio for the S&P 500 is around 15... it's currently at 19. It had hit as high as the upper 30's during the pandemic. It might go down a bit more, but it's approaching a decent level of support right now.