Margaret is correct. It's an interesting example of a "familiar misquotation."
In the traditional 1611 King James translation of the Bible, Ecclesiastes 8:16 reads "Then I commended mirth, because a man hath no better thing under the sun, than to eat, and to drink, and to be merry: for that shall abide with him of his labour the days of his life, which God giveth him under the sun."
Isaiah 22:13 reads "And behold joy and gladness, slaying oxen, and killing sheep, eating flesh, and drinking wine: let us eat and drink; for to morrow we shall die."
The familiar saying is a combination of the two.