Neolibertarianism is a political philosophy combining elements of libertarian and neoconservative thought that embraces incrementalism domestically, and a generally interventionist foreign policy based on self-interest and national defense.
You could basically say that a neolibertarian is a pragmatic libertarian. Those of us who claim to be neolibertarian realize that holding a staunchly unchangeable, idealist opinion on everything is simply not a feasible way to achieve what needs to be done. In other words, we're practical.
Essentially neolibertarians are liberal when it comes to most social issues, endorsing the path that leaves the people with the most choices and freedoms, and conservative when it comes to ecnomic issues, supporting the plan that leaves situations up to the free market.Big government is a big no-no for neolibertarianism. We believe that keeping the government out of things not necessary to the smooth functioning of the country is the best solution. This means we support deregulation of the economy, health care, etc.
I must say, though, that I am not a strict neolibertarian, if such a thing even exists. I am very much pro-choice. But, given the pragmatism of neolibertarians, I don't really think they'd disown me for holding one viewpoint that's not traditionally espoused by them.