Ho hum, more deficit lies.
See "Romney wrong on deficits, Auto Bailout
The deficit was already running at $1.2 trillion when Obama took office and grew to more tham $1.4 trillion. In other words, Obama got an elephant from the previous administration, that Congress continued to do nothing about.
http://www.factcheck.org/2011/06/romney-wrong-on-deficits-auto-bailout/

In 2012, the deficit was $1.3 trillion, and for 2013, will be $1.1 trillion. In other words, it is shrinking a little.
http://www.bloomberg.com/news/2012-08-22/u-s-budget-deficit-to-reach-1-1-trillion-this-year-cbo-says.html