The phrase expresses the need to confront something unavoidable and unpleasant with resolve. When it was time to clean the garage, I just had to bite the bullet.
Pro Tip 2/3
Not Enjoyable
Using 'bite the bullet' implies the speaker is not looking forward to the action, but sees it as necessary. We need to bite the bullet and discuss our budget cuts.
Pro Tip 3/3
Suggests Immediacy
The phrase often implies that the action should happen soon, without further delay. We've postponed this meeting too often; it's time to bite the bullet.