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Gee! Michael and company it's all well and good you know, but neither of those names may fit very well in today's American/World Society. Liberal denotes giving away "OUR" money to those who may not deserve it outside the folks who actually worked and created it in the first place. Remember in these nasty economic times Americans are "GIVING" more to charity than they have done in many a year. So the question is not the government giving of our taxes, but Americans giving from out of their hearts. (A lot more story than there's room for here.)
Progressive is, as you say; a radical misnomer for Communist or worse.
We all once learned in Econ 101 that there's just so much in the world and whatever you have has been taken from others. Well, I have recently noted that there are a few worried stories from English Media defending the old "Lord Economics " himself and his World changing economic ideas in the 1940s and '50s etc. I've even seen Hayak's name and his book about "roads" and "serfdom" being raised again in the face of a near compleated cycle; as a warning against Liberal and Progressive alike. So it may be that both Liberal and Progressive may end up "verbotten". Save 'em for another time. Please the "time" concept for these names eludes me.