That doesn't appear to be what has happened.
An article posted on The Hill's website indicates lobbying firms made more than ever during the past year:
What had a bigger impact on K Street, firm partners say, was the increased legislative activity of the new Democratic majority in areas like energy and tax policy.
Steven Ross, a partner at Akin Gump, said new committee chairmen brought a “pent-up agenda” that helped to drive up business.
He also attributed his firm’s success to a retooled tax shop and its bipartisan model, which he said was “back in vogue.”
James Christian of Patton Boggs said his firm benefited from the big fight in Congress last year to increase the fuel mileage standards. Cerberus Capital Management, which purchased a majority stake in carmaker Chrysler, paid the firm $1.8 million to lobby on that issue.