Will the ‘regulatory cliff’ cause another economic collapse in the U.S.?

I think that the analogy of the impending financial troubles ahead as revenues decline and spending increases is somewhat inaccurate. The "financial cliff" that so many have been referencing as of late doesn't really put the current situation into perspective in a way that normal, economically-ignorant people can fully appreciate, but partisan views like this do more to encourage that divisive disregard for a need to address the underlying issues:

It seems the entire talk is over the fiscal cliff, but some Republicans in Washington and several business groups are discussing the upcoming "regulatory cliff" that many say could be just as damaging to the United States economy. 

The level of intervention into voluntary exchanges by both Republicans and Democrats is beyond unacceptable, with both doing immense damage to local and global economies that would function efficiently when left in their unencumbered states. One side focuses on economic liberties, the other on civil, but neither understands that both are necessary in a free society. I suppose it's more likely that the back and forth between the Left and Right will continue, along with the distractive methods used to maintain a centralization of power in the hands of the ruling class, rather than a move toward an agoristic society. But I can dream...