This is nothing like 2008.  THe "Fiscal Cliff" is a poorly used term that has driven investors to run for the hills.

First of all, there isn't a cliff to fall off of.  The tax changes in the U.S. will be made between now and sometime after January 1st, 2013.  Not all decisions need to be made before Jan 1.  The world is not going to collapse into financial ruin if Obama doesn't act before Jan 1.  The fiscal cliff implies that when Bush era tax cuts expire on Jan 1 that the U.S. economy will lose about 4% of GDP in 2013, if nothing is done to offset these tax increases.  Something will be done to ensure the U.S. economy doesn't fall into recession again.  Will it slow b/c of the tax cut exiration?  Possibly.  But only time will tell.

In the meantime, the market will continue to go down and create some buying opportunity.   But unlike 2008, the market isn't going to collapse because we have seen this problem coming for a while.  Stay calm.

Just my opinion.