The President submits an annual budget. It typically includes more spending than revenues because we've gotten used to deficit spending. Congress ignores the budget and approves a Continuing Resolution (you'll see it in the press as a CR) that keeps the government running without an approved budget. It too contains much more in spending than in revenues.
Max is right. At current interest rates, borrowing is cheap. People differ on whether or not that means we should continue to outspend our revenues. As you can see from the chart, 6% out our spending goes to paying off our debt. That's 6% too much for people like me who think interest payments are tantamount to flushing revenues down the toilet.
There are some who think we need a Balanced Budget Amendment to force the gov't to do just what you said - take the revenues and divvy it up. There are others (most) who feel that the government needs the capability to borrow. There's another group <raises hand> who believe the government needs the capability to borrow, but that it should be an emergency situation and the loan should primarily be made by the American people via US Savings Bonds and Treasuries.
I'm old enough that I remember the push to buy US Bonds in elementary school. We brought in a quarter, or 50cents, or 1$ per week and got little stamps on a card. After a certain # of weeks the cards were turned in to the bank and the bank gave you a Savings Bond that would eventually double in value. It was part of the school curriculum that taught kids to save and to invest in their country. Kids who couldn't afford the 0.25/week didn't go to that class. We barely had food in our household, but my parents thought it was important to learn to save and pay off debt obligations so they scraped up the quarter every week.
Our schools don't teach those lessons any longer, and Bonds are barely worth the paper they're printed on. Times have changed and we've become a debtor nation.