@oralloy,
It most certainly does not. Where does it mention absolute power"? He swears an oath simular to mine: ""I do solemnly swear (or affirm) that I will faithfully execute the Office of President of the United States, and will to the best of my Ability, preserve, protect and defend the Constitution of the United States."
His obligation is to the Office of President. Now show me where he gets "absolute power". Especially when he's part of a three way balance made up of the Executive, Legislative, and Judicial.