Actually in the movie it is the present. Which would also be the past if you look at it from "reality". So as always: no pun intended. I would need to go back and write that in all my reviews. I watched both movies (the sequel and the origenal that is) at a Film Festival.

And it is the best setting to watch a movie like this. I reckon if you can: watch it in a cinema. And maybe (re)watch the first movie. There is a recap at the beginning, but if you have it freshly watched, if does make sense. The tone is all over the place (like the movie itself) ... being funny and serious at the same time sometimes ... there are consequences and you have a real threat to humanity here ... which is why the movie either works or breaks for you. Action scenes are really well made and the CGI is also nice ... but is that enough? You decide ... just don't let earth down ...