MIT slang:
the state of being overloaded with
work. Most-often, being
hosed implies that your work is
academically inclined, but it can also be caused by a
job,
extracurricular activity, or anything else that has a
deadline.
When someone is
hosed, and trying to resolve this, they are usually said to be
tooling.
If someone is not
tooling, they are said to be
punting.
The
origin of the term is from the quote and
M.I.T. mantra:
"Getting an education at MIT is like trying to take a drink from a firehose"