The void that gets created by engaging in an activity that seems like it will be short but ends up taking up huge amounts of time. Like watching video on YouTube, or browsing definitions on Urban Dictionary, or playing Halo 3 on Xbox
Tim: I am so tired, last night I was going to bed and grabbed my laptop to check email. Before I knew it I fell into a timesuck on YouTube and it was 2 am.
A modern office space style take on the military versions of SNAFU, FUBAR and TARFUN. Created by some dudes in a small cubicle complaining about how bad management had screwed something up (yet again).
Rob: I hear they are doubling the quota and reducing the commission rate starting in January.
Brett: TSIFU, I better quit now before I owe them money