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1.
The Stupids Are Winning

(Texting, IM, Twitter shorthand)
They want to kill the economy to save it. TSAW!

They want a black dude who's whiter than they are. TSAW!
by digitalFlack April 11, 2011
 
2.
a phrase used to express joy.
My friend showed me he was happy by saying tsaw.
by The Gooch Smasher!!! November 02, 2006