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It's an adjective that stands for incompetent / stupid / affected by trisomy 21.
Scalco is also a person who always messes up.
Person 1 *mess up *
Person 2: Man you are a real scalco!
When someone asks you to have sex, but you do not want , so you borrow an ass from your fellas.
Person 1: Dude that guy wants to nail me! Can I Ass Borrow you?
Person 2: Sure!