Here's a .PDF instruction manual for the power supply. If the circuit breaker can't be reset, it may be faulty, which is not that uncommon.
http://www.lionel.com/media/servicedocuments/72-2983-250.pdf
Note that they say to unplug the power supply before attempting to rest the circuit breaker.
I am not getting the light to come on and no voltage across the two outputs. I has a circuit breaker it looks like but I can't seem to reset it.
What do you mean when you say you need to troubleshoot it? A simple voltmeter, automotive light bulb, or locomotive is all you need to find out if it's working properly.
Connect the variable output to the track and see if you can control a locomotive to determine if the transformer is getting voltage to the track. A voltmeter or light bulb can be used to test the accessory terminal output.
Can I trouble shoot a Lionel PH-1 135 watt powerhouse? It is brand new. Any idea?
Setting up my layout in Alabama
Paul