This is partially true at best. Spending does not equal revenue, and it doesn't need to. The best way to think about government taxation is that is money that is collected and destroyed. Then new money is printed to pay for government services.
In other words, the government spending money did not take any additional money out of your pocket...in fact, for the past 40 years, for the most part, the government has been trying to put money back in your pocket through tax cuts. Of course, we are now at the point where another tax cut doesn't effect 70% of tax payers because their tax burden is so low or non-existent.