"Liberal Of, designating, or characteristic of a political party founded on or associated with principles of social and political liberalism, especially in Great Britain, Canada, and the United States."

And in Australia... but here, since Little Johnny began to thrust for power with his colleagues, the Liberal Party went WAY over to 'The Right' (the Labour Party is traditionally on 'mostly the Left') and since there were more of them over there, than the ones left behind (who became 'the Democrats') they took the name "Liberal' with them...

Confused yet?