1. fish or cut bait - Verb
2. fish or cut bait - Phrase
fish or cut bait (third-person singular simple present fishes or cuts bait, present participle fishing or cutting bait, simple past and past participle fished or cut bait)
(idiomatic) To make a decision, especially after a period of delay; to either take action now or forgo the opportunity.
It's time to fish or cut bait: either we buy this house now, or we must start looking for another one.