What's going on with project timelines?

Things feel like they're really slowing down on a few of my projects. We're getting pushed back on deadlines left and right, and the resources we were promised aren't materializing. It’s starting to feel like there's a general freeze on new initiatives or even just getting things moving on existing ones. I'm in R&D and we're usually pretty buzz-y, but lately it's been a struggle to get approvals for even minor expenditures. I heard through the grapevine that some departments are facing budget reviews, and I'm starting to worry about what that means long-term. Has anyone else experienced delays or resource constraints like this? Is this a company-wide thing, or specific to certain areas? Trying to understand if this is a temporary blip or something more systemic.