Deflecting objects is actually very easy with current technology. Theoretically, anyway. The problem is
SEEING those objects before it is too late.
Last November, there was a Near Earth Object (NEO) 7 meters in diameter that passed us at a distance of about 2 Earth radii. We only noticed it 15 hours before it missed.
Now, granted, an object that small would not do much damage unless it was traveling very very fast. At the speed it was moving, it would likely have disintegrated in the upper atmosphere. And as the article points out, "on average, objects the size of 2009 VA pass this close about twice per year and impact Earth about once every 5 years."
But the point is that larger objects are not a whole lot easier to see... especially if we're not even looking for them. As it stands right now, we're only looking at very small sections of the sky, the places where we are most likely to see something interesting.
http://science.slashdot.org/story/09/11/10/1810213/Unknown-7m-Asteroid-Almost-Impacted-Earth