Acronym first coined by Woody Woodbury in the early 60s, standing for Booze Is The Only Answer. Followers of this philosophy are known as Bitoans.
Dude: "I'm having a midlife crisis/existential angst/minor inconvenience/great day/life-changing event."
Dude #2: "BITOA."
Dude: "Too true; where's the nearest bar?"