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1. The equivalent of saying "fuck it" when pondering whether or not to do something.

2. Saying you might as well do something since the world is going to end at the end of 2012.
Tom: You want to get piss your pants drunk, hit up the strip club, and fuck some hookers tonight?

Jerry: Idk man, I have to do homework.

Tom: Twenty12 BRO!!

Jerry: Aight, fuck it! I'm gettin a stripper to give me a blumpkin tonight!
by RyanManteno December 02, 2011