Our generation's response to this challenge will be judged by history, for if we fail to meet it – boldly, swiftly, and together – we risk consigning future generations to an irreversible catastrophe.

历史将对我们这一代人对这一挑战的反应作出评判，因为如果我们不能应对这一挑战---大胆、迅速和齐心协力地，---我们将冒使自己的后代遭遇不可逆转灾难的风险。

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That was a situation where going over the deadline and catastrophe might ensue, with irreversible harm.

BBC: Who, What, Why: Who first called it a 'fiscal cliff'?