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1 definition by Not Stephen Colbert

 
1.
Another euphemistic phrase coined by The Colbert Report, this time referring to the solitary action of masturbation -- "better than sex because it's on your time" therefore "Punching The Clock".
Stephen closed and locked the bathroom door, sighed, glanced at his watch, and proceeded to punch the clock.
by Not Stephen Colbert September 24, 2007