Definition
A boggy or swampy area of soft, muddy ground that yields under weight; metaphorically, a difficult, precarious, or inextricable situation. The term evokes being trapped or stuck.
Example Usage
The company found itself in a financial quagmire after the failed acquisition.
Origin
From Middle Dutch 'quacken' (to shake or quake) combined with 'mire' (swampy ground), first appearing in English in the 17th century.
Fun Fact
The term gained renewed popularity as the name of an animated TV show (Family Guy's Quagmire character) but retains its serious usage in business and political discourse.
Source: Definition backfill (hailey)
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