Based on the movie "Groundhog Day" starring Bill Murray. It is the idea that every action that one makes; the rewards and consequences of those actions are not followed through the next day. If someone were to make a big choice, commit a crime, offend someone, make a mistake, or meet someone through out a period of a regular 24 hr. day, those rewards and consequences for all of those actions are not carried through the next day. It is all forgotten. In other words, it's like yesterday never happened. Therefore this pattern can keep on repeating for an unknown amount of time.
Last night, Larry inadvertently said an offensive racial comment that offended many people. However, the very next day Larry experenced a Groundhog Day Effect. All was forgotten and everyone he offended seemed to have forgotten the incident. Therefore, Larry is in the same position as he was before he made the comment.