A sarcastic term used to highlight that
something is, in fact, not
fantastic. Rooted in Sarah Palin's nomination for VP in 2008, which the
Republicans tout as being a great thing, when even they know it isn't.
"Hey,
did you hear they're going to allow
oil drilling in ANWR?"
"What, that's bulls****! Alaskatastic!"
"
Congratulations, Levi! You're going to be a father!"
"That's just f***ing Alaskatastic."