Radley Balko argues that the 'L' word should apply to libertarians, as leftists are not so liberal anymore. He's right.
Or, as John Powers said, ..."left has become — there’s no other word for it — reactionary."
Back in August I suggested a few things Democrats could do to restore some semblance of liberalism to themselves. Powers has some suggestions, too.
Powers article via Instapundit.