“But they cut the state too much, too fast, and as a result the debt is rising, and deficit failing…

Because the state should provide an important part of aggregate demand, employment, etc during the recovery from a very significant economic crisis and an ensuing recession, but instead they cut back on the very things that would, according to standard Keynesian economics, have supported growth, employment, the tax base, etc (and higher employment also means lower transfer payments, etc). This is pretty simple, mainstream stuff. It was pretty much universally accepted until the rise of neoliberalism and still has a huge following among actual economists, as well as much of the political centre and left, etc.

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