Phrase used by someone in order to accept even the most 'unacceptable' situation that would normally be a load of horse shit. Only because they know they have to.
Tom: Man why do we have to pay taxes for people who don't even work?
A salutation or a manner of saying hello to a good friend. Remember though, the person must be a jiving fool and must respond with a cool and smooth response.
What incredibly vapid, stupid and unoriginal people say when they cannot construct a proper thought, retort or sentence.
If you were to ask a nitwit why he left work early, the response would go something like this. I don't know, I mean, I just felt ...I left early. It is what it is.
Or, when you catch a person in a lie, scheme or have proven them wrong in any way, It is what it is is sure to leak from their gaping mouth.
Or, to be dismissive. You promised me a dollar raise a month ago and it hasn't appeared in my check yet.