National Journal compiled counts of articles that mention one of the words in their headline or first sentences in the five largest newspapers in the country by print circulation -- a group that consists of The New York Times, The Wall Street Journal, the Los Angeles Times, USA Today, and The Washington Post. The data was taken over a period of roughly two years from April 15, 2009, to May 15, 2011, using LexisNexis, a news information service. The numbers exclude mentions that also used the words Europe(an) and Greece or Greek in an effort to focus solely on the domestic debate, though even with those included, the trend was not materially different.
Mentions of unemployment have been dwindling since they spiked to 154 in the month ending August 15, 2010; over the month ending Sunday, there were 63. Deficit mentions, meanwhile, surged up to 261 in the month ending December 15, 2010, when the leaders of President Obama's deficit commission released their final report. Mentions of the deficit remained higher after the commission's work wrapped up and as House Republicans and then the White House unveiled dueling proposals. In the month ending Sunday, there were 201 mentions.
Simply put, this is completely natural when you have an intense political focus on deficit reduction coupled with a media class that's been isolated from and mostly unaffected by the economic downturn.