To say your analysis is an inch deep would be an overestimate.
Recessions have huge deficits for at least two reasons: 1. Revenues are way down (and this happened in 2009, 2010 etc.); and 2. Fiscal policy tools to combat the recession are funded by deficit spending (tax cuts and/or spending increases), with the thought that they will lead to a growth period in which the deficit may be reduced (and maybe even the debt). Obama's deficits decrease every year until they reached a very manageable level.
You knew all that, right?