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1.
An opportunity for politicians to do what they do best: get on TV and scare the bejeezus out of people.
Boehner and Obama got some quality air time on TV while stocks crashed because they can't reach a deal on The Fiscal Cliff.
by Mr. R0ntastic November 10, 2012
 
2.
The date after which (for reasons of deteriorating attractiveness) a young man or woman is unable to attract a wealthy spouse/partner/sugar daddy/sugar mama.
"Can't Lucas find rich a queen to pay his bills?" "No way. Have you seen what happened to his abs from all those appletinis? He's gone over the fiscal cliff."
by RiddimJack January 03, 2013