The coming financial meltdown

President-Elect Obama will be inheriting a Congress in which both houses have Democratic majorities in addition to 4 reliable votes on the Supreme Court. On first blush, this would seem to be a great time to be a liberal president - an obedient Congress to pass all the legislation that a president could want. But appearances can be deceiving.

The President will not be in control of the Congress. The Democratic congressional caucus will be in charge of the Obama administration and they will be the ones giving the orders.

The Democrats have been out of power for fourteen years since Newt Gingrich used the Contract With America to win a majority in the House in 1994. In 1976, President Caster believed that he would control Congress. He was wrong. The Democrats passed legislation without input from the White House. The struggle for power between the two branches became bitter. The falling out between the branches made for an ineffective administration during the "stagflation" period and, coupled with the failings of Carter's foreign policy, led to the election of Ronald Reagan in 1980.

In 1993 and 1994, President Clinton believed that he could control the Democrats in Congress and did not have to work with the Republicans. It wasn't long before President Clinton found himself being watching while Congress was legislating without his leadership.

In 1995, the Republicans took control of the House and a couple of years later, the Senate. This was the start of the great Clinton economy because President Clinton was forced to work with the Republicans to get any legislation passed. The Republicans were able to force fiscal restraint on the Clinton Administration. Anyone remember President Clinton's speech in which he declared that the "era of Big Government is over?"

From 1995 until 2006, the Republicans were in control of Congress. Even when the Democrats regained a majority in the House and a razor thin majority in the Senate, the Republicans still had sufficient control of Congress to block Democratic legislation using the filibuster and the Presidential veto.

Now, with an incoming Democratic President and a smaller Republican caucus in the Senate, it will be more difficult for the Republicans to maintain a filibuster. The Democrats in Congress are rejoicing at their new found power. They are in control again.

Which brings us to the plight of President-Elect Obama. He wants to lead. He wants to set the agenda. He wants to tell Congress what they will do for his agenda.

The Democrats in Congress will balk. I cannot see Nancy Pelosi and Harry Reid telling Rep Rangel and Sen. Schumer that they will have to toe the administration line - and making it stick.

No way, no how.