I'm clipped - You're so busted you might as well be wearing a big red X on

You're so busted you might as well be wearing a big red X on your forehead and screaming for the cops.

I'm clipped, I just got caught stealing a pizza from the counter.

I'm clipped, my dog ran away and my mom found out.

I'm clipped, I failed math and I'm going to get grounded for a month.