Flashback: Obama Urges 1990s-Style Fiscal Restraint in 2008

In retrospect, this video is laugh-out-loud funny.  Behold, then-Senator Obama inveighing against "runaway spending and record deficits" in 2008:
 

"Runaway spending and record deficits are not how families run their budgets; it can't be how Washington handles people's tax dollars."

Runaway spending and record deficits, huh?  Parting thought: Is President Obama open to returning to 1990's levels of spending?  Or would that usher in the sort of "draconian cuts" that would clog the innocent lungs of poisoned children with corporate pollution?