Is, Was and Will be

A.M. asked me if I had noticed more use of the irritating phrase "It is what it is".  Where exactly did this phrase come from and what does it really mean?  Well the urban dictionary states that it is often used in business - with various interpretations (from PG to R).  But clearly it is frequently used in interviews with sports players and coaches to abbreviate the conversation- see USA Today article.

A.M. said the phrase had even morphed into "It was what it was".  Now that is really redundant and (in my opinion) meaningless.  The tense of "was" usually means that history can't be changed (unless the politicians do it). Even "is" becomes the past immediately so technically after uttering the first "is" it becomes a "was".

A.M. nodded and concluded with this phase ----- "It is what it will be"  :)