Absolutely not! Even though old mascara can tend to clump on the lashes, it will flake more than clump. If your mascara is newer and doesn't have a bad smell, this it's just a common occurence.The normal cause of clumping is due to dried up and left over mascara that has found its way onto the wand, and then your lashes.
The fix is really easy. All you need to do is wipe the mascara wand clean with a paper towel. Do not use water or anything, such as cotton balls, that will get trapped in the wand. Also, remember to never "pump" your mascara because this can get air into the tube and make it go rancid quicker.