When you break down the list of things you mentioned, Obama isn't taking as similar of an approach as it might seem.
Iraq War - Bush started the war needlessly, and this is what liberals complained about. He got us involved so deeply that we cannot now safely exit the country on a dime. Obama has approved additional funding for the war only so that we can withdraw our troops in a way that is safe for both the troops and the Iraqis. Btu make no mistake, Obama is trying to withdraw the troops ASAP.
Heavy Spending in Iraq: Again, at this point all spending in Iraq is directed towards ensuring a safe withdrawal and that the country - that Bush screwed up so badly by getting us in there - doesn't fall apart. Bush approved funding for continuing the war dangerously, Obama is approving funding to end the war safely.
$700 billion bailout package - Liberals didn't complain about this under Bush. Many of them voted for it. What they complained about was the necessity for a bailout, which was created by Bush's policies of deregulation. It was Bush's polices that created the need for the bailout that liberals complained about.
Expansion of the U.S. government - It is true that liberals did complain about it. However, Bush expanded certain, different aspects of the government than Obama. Bush was concerned more with expanding intelligence agencies to try to fight terrorism, whereas Obama is more concerned with creating social programs to provide health care, social security, economic regulations,etc. Liberals complained about Bush's expansions because they believed those expansions to be unnecessary or violations of constitutional power.
Continued borrowing from the Chinese - Yes, Bush did this and Obama is as well. But Bush did one more thing - he screwed up the economy. Obama is borrowing because it is the only way to save the economy. Bush did the same because of irresponsible spending on unnecessary wars.
So Obama's policies are in fact quite a disconnect from Bush's policies.
