To barely complete something.
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To barely manage to do something in time or within a limit, with very little margin to spare.
When you cut it close, you come very near to missing a deadline, catching a flight, or exceeding a boundary.
It is used when something is accomplished just in time, but it was a near miss.
"By the Skin of One's Teeth"
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Barely succeeding or escaping with the absolute minimum margin possible
"Down to the Wire"
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Reaching a conclusion or decision only at the very last possible moment
"Cut it Close"
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Completing or achieving something with barely any margin or time to spare