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1.
1. A bluff, as in the game of poker, about an upcoming crisis, such as the “fiscal cliff” that congress will let the country fall off of if it fails to take action on the budget.

2. A bluff on a mountain a portion of which is as vertical as a cliff.
Congressman A: “If you don’t agree to cut medicare spending by $300 Billion a year, we’re not going to raise taxes on the rich by one penny.”

Congresswoman B: “Your just making another cliff bluff. Our side will just let the tax cuts expire on everyone.”
by euphemismo November 27, 2012