A catchphrase added onto to the end of a narrative to either:
make a story more amusing (see forced-Lettermanlike irony) or make a story more interesting by adding 'truthiness' to it.
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The 90s equivalent of truth is stranger than fiction
Often used in place of: truth is more amusing than fiction
not to mention, Life imitates art and Why would I make this stuff up? or Who makes this stuff up?