Higher prices at the pump, which affect predominantly lower and middle income households, could become a drag on the U.S. consumer, which makes up about 70% of GDP.

FORBES: What Will Oil At $100 Or More Mean For The Economic Recovery?

He has significant changes to the tax code that would provide large tax benefits to upper-income households, while shifting the burden onto middle and lower-income households.

WHITEHOUSE: Detailing the FY2011 Budget

And secondary school teacher Craig Macartney, from Suffolk, said he had noted that increasing numbers of children from middle to lower income households were missing school trips as families struggled to meet the basic cost of living.

BBC: Poverty hitting pupils' learning, survey suggests

Dr. MICKEY LEVY (Chief Economist, Bank of America New York): So, the fiscal stimulus, now that it moves to the top of the priority list, that stimulus package will include some of the components of Obama's economic platform, including tax cuts for the middle and lower income households.

NPR: To Face Economic Crisis, Obama Moves Quickly

For middle- and lower-income households, home values represent the biggest chunk of total wealth.

NPR: Average US Household Far From Regaining Its Wealth

Consequently, middle- and lower-income households stepped out of character to save heavily.

FORBES: The Chances Of A Double Dip

Income growth for households in the middle and lower parts of the distribution slowed sharply, while incomes at the top continued to grow strongly.

FORBES: The Retirement Crisis Is Here For Millions-Income Inequality Now Set To Wreak Its Ugly Revenge