In "Fiscal Cliff," the episode opens with a scene depicting the Simpson family in their living room, where they are watching a news report about the impending fiscal cliff that the country is facing. The news anchor explains the potential consequences of failing to reach a budget agreement, which sets a tone of urgency and concern among the family members. Homer, feeling the weight of the situation, expresses his worries about how it might affect their finances and lifestyle.

As the episode progresses, we see Homer at work at the Springfield Nuclear Power Plant. Mr. Burns calls a meeting to discuss the company's financial situation, revealing that they are also facing budget cuts due to the fiscal cliff. He orders the employees to come up with ideas to save money. Homer, in a moment of desperation, suggests a series of ridiculous cost-cutting measures, which Mr. Burns dismisses. However, one of Homer's ideas, to cut down on the number of donuts in the break room, surprisingly gains traction.

Meanwhile, Marge is at home trying to manage the household budget. She becomes increasingly frustrated with the rising costs of everyday items and the lack of financial security. She decides to take matters into her own hands by starting a small home business selling homemade baked goods. This decision is motivated by her desire to contribute to the family finances and alleviate some of the stress caused by the fiscal cliff.

As the story unfolds, Bart and Lisa become involved in their own subplot. They decide to hold a fundraiser at school to help raise money for their extracurricular activities, which are threatened by budget cuts. They organize a bake sale, and Lisa takes charge of the event, determined to make it a success. Bart, however, is more interested in making a quick profit and suggests they sell items that are not allowed, leading to a conflict between the siblings.

Back at the power plant, Homer's cost-cutting measures lead to a series of comedic mishaps. The employees are forced to work under increasingly absurd conditions, such as using outdated equipment and rationing supplies. This creates a chaotic atmosphere at the plant, and Homer begins to feel the pressure of his decisions as the situation spirals out of control.

As the deadline for the fiscal cliff approaches, the Simpson family comes together to discuss their financial woes. They realize that they need to make sacrifices and work as a team to navigate the challenges ahead. Marge's baking business starts to gain popularity, and she finds joy in her newfound entrepreneurial spirit, which boosts the family's morale.

In a climactic moment, the family attends a town hall meeting where local leaders discuss the impact of the fiscal cliff on Springfield. Homer, feeling empowered by his family's support, stands up to voice his concerns about the cuts and the effect they will have on the community. His passionate speech resonates with the audience, and he gains unexpected support from his fellow citizens.

The episode concludes with a resolution to the various plotlines. The town manages to come together to find a compromise that alleviates some of the financial burdens, and the Simpson family learns to appreciate the value of teamwork and resilience in the face of adversity. The final scene shows the family enjoying a modest but happy dinner together, reflecting on their journey through the fiscal cliff crisis.

In 'Fiscal Cliff', Homer Simpson finds himself in a precarious situation as he grapples with the implications of the fiscal cliff on his family's finances. His character is portrayed as both oblivious and comically overwhelmed by the complexities of the economic crisis, leading to humorous yet poignant moments as he tries to navigate the challenges.

Marge Simpson exhibits a mix of concern and practicality regarding the family's financial woes. She often tries to keep the family grounded and encourages Homer to take the situation seriously, showcasing her role as the stabilizing force in the household amidst the chaos of the fiscal cliff.

Bart and Lisa Simpson take it upon themselves to understand the fiscal cliff and its impact on their family. Bart, with his mischievous nature, attempts to exploit the situation for personal gain, while Lisa, being more socially conscious, advocates for responsible financial behavior, highlighting their contrasting approaches to the crisis.

Mr. Burns, the wealthy owner of the Springfield Nuclear Power Plant, is depicted as largely indifferent to the fiscal cliff, viewing it as an opportunity to further his own interests. His character embodies the greed and detachment of the wealthy elite, providing a satirical commentary on the economic divide.

The episode is filled with comedic situations as the Simpson family tries to cope with the impending fiscal cliff. From Homer's misguided attempts to save money through absurd schemes to Marge's frantic budgeting efforts, the humor often stems from their exaggerated reactions and the absurdity of their solutions, creating a blend of chaos and laughter.