Short for Liberal-Conservative (Can also be interchangeable with Conservative-Liberal)
Insult.
It is used to signify that there is little to no difference between a
conservative or liberal government / supporter and the final outcome for a voter or general citizen would be the same with little difference. Generally meaning one who votes or supports a Liberal (Progressive) based party and then after being displeased after their time in power, they turn to the
Conservative based party and support them. Assuming that the outcome will be different than the previous. The cycle continues in a circle of Liberal,
Conservative, Liberal,Conservative etc... with no major change in the political atmosphere, hypocrisy, poor politician work efficiency, financial corruption or the lack of care for the citizen's well being.
The term is popularly used by any rebel against governments or central powers(such as an Anarchist etc..) or someone simply disgusted and fed up with politics and politician's in general.
