It's a dangerous narrative because the premise itself is not entirely untrue, you guys have been increasing national debt and it's already pretty high (as it is for much of EU unfortunately):

But of course the far-right does not offer solutions and instead makes things worse like you said.

Here in Estonia we've had minor cuts like increasing doctors appointment fees for non-recurring visits to specialty doctors and ER from 5€ to 20€ and we've also increased taxation, which is of course widely hated, but we've managed to keep the country going with little increased debt load to bite us in the ass when the next global recession comes (generally you want to increase spending when the recession has already hit to come out of it faster, so it's great to have headroom for taking on debt then).