Two things can be true at the same time. We waste a lot of money because, thanks to deficit spending, we don't need to prioritize one program over another. Very different than balanced budgeting. I spent five years with a front row seat to a state budgeting process, programs get racked and stacked brutally because you just can't fund everything.
And yes, we need to tax more as well. We're about to be strangled by entitlement spending in the next 20 years and if you think the solution is as simple as cutting those programs, you don't really have a very good view of how the US electoral and political process works. We need a grand bargain that raises taxes across all income levels, cuts wasteful spending, raises retirement and benefit ages to realistically track the growth of life expectancy in the last fifty years, and drives us in the general direction of a balanced budget in a decade or two. You gotta give a little to get a little.
Or you can dig in your heels, say "taxes too high, no new taxes," and await the inevitable collapse of the US financial and political system. If you're lucky, it won't happen while you're alive, but your children won't thank you.