Barack Obama told Americans Saturday in his Weekly Address, We need a government that lives within its means. But, that was Saturday. Today we found out that Obamas February deficit topped Bushs Deficit for all of 2007. In February the Obama Administration posted the largest monthly deficit in US history. The Washington Times reported. Barack Obama tripled the national deficit in his first year in office. In his second year the deficit was again a record $1.29 Trillion. This year the deficit will be even higher.