A term originally used to mock Bush, but has degraded into a word hipsters use in an attempt to make themselves sound cooler. People who use the word are the peope who also use teh and le because quite simply they saw everyone else doing it.
This also goes for teh internets, the typed form of the word in which the is intentionally mistyped, so they can make themselves look like the largest douchebags possible.
Hipster: I was surfing the internets at starbucks...
Person: Shut up, you are a douchebag.
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