Fiscal Cliff (noun)
Origin: Unclear; popularized by Ben Bernanke
1. A coming "cliff" of spending cuts and expiring tax cuts taking place at the end of the year if members of Congress cannot agree on a way to avert it. 2. Actually it's a gentle slope. 3. No, it's a cliff. 4. You guys, it's an obstacle course. 5. It is very important that we get this terminology right. 6. (Though going over the cliff could cause a recession next year.) 7. But seriously, it's a slope.