Acronym - I'm laugh-ing(-ed) so hard I messed in my pants.
Origin unknown, but most likely created within and due to the internet.
This acronym can be used in the past and present participle, unlike most that can refer to only one occasion.
Subject One: That is funny. Hahaha.
Subject Two: I concur.
Subject One: Oh dear.
Subject Two: What is the matter?
Subject One: ILSHIMIMP.
Subject Two: Oh dear. I shall fetch you some fresh undergarments.
1. A flowery, nicer sounding phrase for socialized medicine, a system where the government takes even more of your hard earned money to pay for a "free", sub-par healthcare system - where you and the doctors both suffer, because they get crap pay and you have to wait for days just to get a check-up.
2. Something that happens when you decide you'd rather let the government choose who takes care of you instead of yourself.