No, unfortunately not. These days, it's mostly correlated, but doesn't have to be.

Deficit spending can easily happen via bond sales to citizens, such as war bonds.

In fact look at 2021-2023. The m2 and fed balance sheet was shrinking as the deficit was ballooning. How?

Easy. Pensions, banks, people, companies, countries, all bought US debt at the higher rates, and NOT via the fed printing money.