Medical Marijuana: Obama's War On Pot Ramps Up In Colorado, Key Swing State

When it comes to this, and just about everything else given how Obama has been walking around in the Bush-Cheney 'Unitary Executive-I-Don't-Answer-To-Nobody'-shoes, the president does have the power, which was bestowed on him by Congress.

The relevant section of the Controlled Substance Act specifically gives the president (through the attorney general) the power to implement a process to reschedule cannabis administratively.
Read the Article at HuffingtonPost