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"the reality of the situaiton"

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the fact of the matter is that it is indicating the implications and current state of events pertaining to or caused by some situation which has arisen.
 
"The reality of the situation" is a phrase used by mid-level managers and bureaucrats as an opening to explaining some bullshit reason why things are to be done their way.

Facts:
You are scheduled to paint the outside of the building.
It is raining buckets.

Manager: "I understand that painting the building today is not feasible however the reality of the situation is that we need get the building painted today or the accounts receivable contracts for the new payroll data enhancement system will lapse, so get painting."
 
The 'reality of the situation' is used when the 'myths of the situation' have become a threat to one's ulterior motives.
 
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