The definition of "liberal economics" is different in the modern day US than it is everywhere else; liberal economy occurs when the government minimally interferes with the economy and only serves to protect the rights of the individual. In the US, the term liberal has come to be defined by liberal social policy. Thus, economically speaking, "progressive" or "socialist" economy is more of what you are describing in your post. I do agree with you on the paradox, though, although I would add to this that neither the majority of "left" or the "right" in the US truly cares for (classical) economic liberalization.