It sounds like and could be...
- you have a problem in the "clock spring". The clock spring is the device inside of the center in the steering wheel that connects everything electrical on the wheel (Horn, Cruise control System and Airbag System) and still allows the wheel to turn.
If this car's airbag deployed sometime in the past, the clock spring may be ok or may be damaged. Or maybe when the car was rebuilt it just didn't get full plugged in everywhere.
- you have bad connections at the steering wheel. If you decide to do this yourself, make sure to follow the procedure step by step in the service manual before removing the wheel. Otherwise you'll end up with a loaded air bag in your face! (Autsch...)
BEFORE YOU UNPLUG OR PLUG IN ANY OF THE YELLOW PLUGS (SRS RELATED) FOLLOW THE MANUAL ON DISCONNECTING POWER FIRST. ALL SRS CABLES ARE YELLOW MARKED
Mike / Cologne