ABC News:

Obama promise: “today I’m pledging to cut the deficit we inherited in half by the end of my first term in office. This will not be easy. It will require us to make difficult decisions and face challenges we’ve long neglected. But I refuse to leave our children with a debt that they cannot repay — and that means taking responsibility right now, in this administration, for getting our spending under control.”

“The 2013 budget the president submitted today does not come close to meeting this promise of being reduced to $650 billion for fiscal year 2013.

“The president noted in that 2009 speech the Obama administration inherited a $1.3 trillion deficit.
The deficit was similarly $1.3 trillion in 2011, is projected to be $1.15 trillion in 2012, and the president’s budget claims it will be $901 billion in 2013.”

CBS News tracked Obama’s 2008 promises and here are the ones he broke according to CBS:

“And for the sake of our economy, our security, and the future of our planet, I will set a clear goal as president: In 10 years, we will finally end our dependence on oil from the Middle East.” BROKEN

In June 2012, the Wall Street Journal reported that the U.S. is on track, according to energy analysts, to end its dependence on Middle East oil — but not until 2035.

“Now is the time… to protect Social Security for future generations.” BROKEN

The president hasn’t done anything to stabilize Social Security.

“But I will also go through the federal budget line by line, eliminating programs that no longer work and making the ones we do need work better and cost less, because we cannot meet 21st-century challenges with a 20th-century bureaucracy.” BROKEN

The president signed spending bills in his first term in spite of his objections to potentially unecessary spending.

“… but I will also renew the tough, direct diplomacy that can prevent Iran from obtaining nuclear weapons and curb Russian aggression.” BROKEN

Just last month, Iran said its sole operational nuclear power reactor, built with Russia’s help, has reached full capacity. Iran says its nuclear program is peaceful, but the U.S. believes the new plant is part of Iran’s attempts to develop nuclear weapons.