As a reactionary, I'd like to say that a majority of politically polarized people (at least in the U.S.) are polarized in their own way rather than being skewed Conservative or Liberal. Most voters don't agree on everything that their party does, and the parties are becoming more vague in whom they support and what their platforms are. Modern politics are dominated more by individual concerns than general ideologies. Thus, you get more and more Conservatives voting Democrat and Liberals voting Republican.
About 52% of the American population considers themselves politically polarized. Now, this does not mean that 48% vote independent or swing evenly. There tends to be a general liberal lean for a majority of American citizens. Even True Moderates are more likely to vote Democrat simply because of how each party campaigns to either broaden or narrow their ideologies. Interestingly enough, however, the general populous is slowly becoming more and more politically polarized. As this movement is more likely to occur in a smaller, community setting, each U.S. County is beginning to show leans one way or the other. Small pockets scattered across the country are starting to show their idealization, while States are becoming more unstable and the nation even more so.
Remember, though, that idealization occurs one issue at a time, so a group of people who support gay rights may take on a pro gun rights stance and be split between the two parties.
So, to answer the question of what 'Liberal' and 'Conservative' mean, I think you would have to go with the party definitions. It matters not which party you would like to support any more, but whichever one promotes the candidate that you agree with most. You will find that parties are no longer the economic political dominators that they used to be. They are beginning to hold more candidate centered campaigns rather than party centered ones. Of course, all of this should create confusion, because that is what the world is coming to. Once you lose the black and white definitive sides of an argument, then there becomes nothing to hold the political process together, and you are ended with numerous factions. Hyper-pluralism follows, and the nation falls into a state of gridlock. Of course, European states are much closer to such roads to anarchy, and thus an ignorant, liberal bias guides the people to economic crisis after cultural conflict, ultimately until Europe has brought the entire industrialized world down with it, and you have dozens of third-world countries across the globe acting as the new superpowers.
So thank you, ignorant masses, thank you for destroying the free world under the guise of freedom and liberalism, which, I might add, is a flawed concept that is no longer relevant to the modern world. For now, it is no longer the people who are forced to do what needs to be done by the will of the governed, it is the governed who are forced to do the misguided will of the people. But you mustn't understand why I have spent the time to go off on this tangent, so I will stop. But know one thing: Obama will be reelected. And after that, all hope for those who claim to have any power or any free will shall be lost.