Here's John McCain last night:
During his first year in office, President Obama and Congressional Democrats have amassed a $12.4 trillion deficit that is growing each day.
As Josh Marshall wrote, yes, that'd be $1 trillion a month for 12 months. Which is ridiculous.
...the FY 2009 deficit, which totaled $1.4 trillion, was already estimated to be $1.2 trillion when Obama came into office and "virtually the entire deficit over the next ten years" are due either to policies implemented under President Bush or to the recession, which began during Bush's tenure, according to the Center on Budget and Policy Priorities.