'It's about time" expresses impatience that something is overdue or late. It can be used on hearing that something has happened that the speaker believes should have happened earlier. It can also be used about something that has not yet happened, but the speaker believes should have already occured. For example I could tell my boss that I have just completed the report that she has been wanting for some time, she could reply "It's about time!" Or, if I have not yet completed the report, she might say "It's about time you did that report!" 'Damn' is an intensifier, and is often seen as mild swearing. It intensifies the expression of impatience

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In addition to the answers: I wouldn't say it's particularly offensive to most people, but some people would definitely not like it. I recommend not saying this until you really understand it. The look on a waiters face if you said this after he gave you your coffee would be priceless. However, you would probably be asked to leave :)

Examples: "They're finally tying the knot, (getting married), it's about damn time!" "Oh so you decided to come to work this morning? It's about damn time!" "She's pregnant? Well, it's about damn time!" "He finally sold the boat? Well it's about damn time!" (the comma is optional from one sentence to the next) "It's about damn time you took a look at that book!"

Que ya es momento de hacer una acción o algo , ejemplo : Ya es hora de irnos. Momento de irnos