What is Shit The Bed, Margaret!?
1.
An exclamation of surprise, shock, or amazement.
The response "At least it wasn't your pants, Bob," may be used.
"Little Jimmy passed his test? Well shit the bed, Margaret! This calls for a celebration!"
See
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1.
1. When you have some pretty bad shits after a night of some hardcore drinking.
see also beer shits
Clint: Dude my fucking ass is on f..