Will the bad economy prevent Obama from achieving the goals he put forth in his campaign platform?

The NYTimes reports today that president-elect Obama may choose not to roll-back the Bush tax cuts on the wealthy. Instead, he may opt to just let the tax cuts expire in 2011. This story may offer a hint at the limits of what Obama can really accomplish during his first four years. Will he really be able to implement change, or will he have to forego his plans and just try to hold down the economy?