Top Definition
An expression used by people when they are attempting to be insightful but either have no clue what to say next, are incapable of coming up with something meaningful/intelligent to say, or would prefer to change the subject altogether.
Dan: Wow, the economy totally sucks right now, how do you think the rising unemployment rate will effect consumer spending power?

George: Well, people don't have jobs, that sucks, but "it is what it is" you know?
by Scorp16989 March 13, 2009

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