With the economy on its knees, many American families have had to forgo their annual holiday just to make ends meet.

But barely a month after returning from a luxury Christmas break in Hawaii Michelle Obama is on holiday again – this time at the exclusive Colorado ski resort of Aspen.

The First Lady Michelle Obama is spending Presidents’ Day weekend in the upmarket resort with her daughters, Sasha and Malia, and was seen hitting the slopes – albeit apprehensively – on Saturday.

The Obamas are staying at the home of Jim and Paula Crown, owners of the Aspen Skiing Co, the Daily News reported.

Last year the first lady gave a speech at their home, in front of about 150 supporters. Each paid between $1,000 and $10,000 to attend the joint fundraiser for the Democratic National Committee and President Obama’s 2012 presidential campaign.

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