Fiscal Cliff

(1) the "cliff" is entirely a man-made phenom, which came about by the inability of the Congress to agree on how to deal with the budget, and

(2) Investors.Com gives us the figures:
http://news.investors.com/blogs-capital-hill/112012-634082-federal-deficit-falling-fastest-since-world-war-ii.htm

Believe it or not, the federal deficit has fallen faster over the past three years than it has in any such stretch since demobilization from World War II.

In fact, outside of that post-WWII era, the only time the deficit has fallen faster was when the economy relapsed in 1937, turning the Great Depression into a decade-long affair.

If U.S. history offers any guide, we are already testing the speed limits of a fiscal consolidation that doesn't risk backfiring. That's why the best way to address the fiscal cliff likely is to postpone it...

Go and read. It is something the media pretty much over looked in their effort to "keep us informed".
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This heads-up from:   http://prairieweather.typepad.com/big_blue_stem/