Nick, there's a difference between sounding Republican and acting Republican. Every Republican president since Reagan has talked about smaller government and controlling spending, but they have done exactly the opposite. They talk the talk, but... no result. The one thing Daddy Bush got right, was when he said "Trickle Down theory", was "Voodoo Economics". Of course, he promptly sold out, but that's politics.
Time will tell if Obama gets the deficit spending under control. I hope he doesn't act Republican; that is, increasing spending much faster than revenue.