Don't panic too much about the fiscal cliff, which will be short lived if it happens at all. But the consequence may lead to deep short or long term budget cuts in science. If charitable deductions are eliminated, that can be a large hit on university endowments. Pell grants might also be in play.
On the other hand, science and education has its friends in Washington, starting with Barack Obama. So maybe the whole fiscal mess will work out just fine for us and we can go back to worrying whether universities will be decimated by MOOCs.