PhD - How dependent are public universities on funding from the US Government?
As Nate explained, these cuts aren't relevant to whether a school is public or private; the factors are much more complicated than that.  Public schools in many states have gotten serious funding cuts in recent years, but that's not a decision that's made by the president, but by the governor and legislature of those states.  You can research whether they've been doing so at the public institution you're looking at, but of course, the situation could easily change after the next election.  I think this is just too complicated to really try to game out how things will be impacted; I think probably the best source of information is talking to other students at the institutions and the precise financial details in your offer.