This acronym refers to a certain type of person, attitude, or statement about Rudy Giuliani that says something along the lines of "Sure, he's a liberal/phianderer/louse who doesn't agree with social conservatives anything, but he'll be tough on terror."
This doesn't necessarily mean anything about actually preventing terrorism, as Lawrence Auster points out, but rather refers to the fact that he will likely carry the neoconservative goal for empire even farther than Bush, as evidenced by his choice for senior foreign policy advisor. So they support him out of a believe that he will teach "those damn Muslims" a lesson by bombing more of them into oblivion and making "The Norman Conquest" Podhoretz's dreams come true.
More simply, what I always translate this attitude into is this:
"Who cares? He'll Kill the Sand-N*****s and that's Good Enough for Me!"
That is all.