What do we mean when we say it today?
Nowadays, we've changed this phrase a bit. We tend to say "the long and the short of it." It still has the same meaning, but we've switched up the order. Granted most of us aren't saying it after a ridiculous series of events like Bottom. But the sentiment is still the same. When we say this today, usually we're just trying to say something is the truth, the whole truth, and nothing but the truth. Bottom line (sorry, we couldn't resist).