You can go straight to the source. Their home page is http://www.lp.org and their statement of priorities is here:

http://www.lp.org/introduction/what-is-the-libertarian-party

Essentially, the libertarians believe in limited government (in some cases, extremely limited) because they believe a minimal government equals maximum personal liberty.

Here is what they say:

--begin quote--
What is The Libertarian Party?

The Libertarian Party is your representative in American politics. It is the only political organization which respects you as a unique and competent individual.

The Libertarian way is a logically consistent approach to politics based on the moral principle of self-ownership. Each individual has the right to control his or her own body, action, speech, and property. Government's only role is to help individuals defend themselves from force and fraud.
Tolerant

--end quote--

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