A budget is the projected amount of money a corporation allocates to spend during a period of time. Money can be allocated for food, shelter, transportation and many other things. A budget is considered to be balanced entity has assets that are equal to the projected expenditures. When there is not enough assets to cover the expenses there is a budget deficit.
When this happens you can either allocate more money or you can raise more revenue. When a government spends more than they have allocated, they must allocate more money or raise taxes.
Governments always choose to balance the budget by borrowing enough money to cover the deficit. When money is borrowed it needs to be repaid with interest. This is why the government has a national debt in excess of $23 trillion dollars.
The government currently has assets of over $140 trillion dollars and could easily transfer the money needed cover the annual deficit and stop borrowing money.
The government generates revenue from taxes from a yield on their invested assets. Currently we are spending about 4.5 trillion dollars annually while the government's yield on their invested assets exceeds $14 trillion dollars.
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