to extricate yourself from an impossible situation, where there is very little or no hope for improvement.
similiar to cashing in your chips
, however, when one cuts their losses, it usually means that they are walking away with nothing to show for their efforts, and are getting out before they have to endure even more loss.
cutting your losses:
The U.S. Government eventually decided to cut its losses with regard to the Vietnam War, and by the early 1970s withdrew all of its military forces from Southeast Asia.
Look at that donkey over there. His woodie is quite magnificent.
The game of basketball
Let's go play some b-ball tonight at the elementary school
The act of sexual intercourse.
John and Jane are doing it in the bedroom.
Often used to describe the extremely aggressive punching action of one person against another during a fight
Did you see that? He was wailing on that guy!
the menstrual cycle of a woman.
No sex this week. I'm on the rag.
A man wired with explosives that detonates himself in the name of a certain cause.
Another suicide bomber blew himself up in Tel Aviv today.