Cacher is on the right track. The combined weight of the Bobcat and trailer may technically come in under the tow rating of the libby (which I actually doubt), but even if it does, there are a few things stacked against you.
First, wheelbase, the Liberty has a very short wheelbase and is there fore not the best suited to towing heavy loads. What happens is that when the trailer on the back sways and moves back and forth as it tracks down the road, it exerts a force at the hitch that is opposite of the direction the trailer is swaying. A shorter wheelbase vehicle succombs pretty quick to that force and is tracked off course. Then when the tow vehicle corrects itself, it causes the trailer to sway back the other way, thus causing the force re-excerted (in the opposite direction) at the hitch again. If it starts, this cycle can quickly get out of hand and almost always ends with the trailer and/or tow vehicle on it's lid. I worked at a rental shop as a teenager and I have seen this happen many times with vans, Jeeps, cars, etc.. Going very very slow is about the only counter measure that a short wheelbase vehicle can do for this.
Second, as was mentioned, the braking system on the Libby is very underdeveloped for this type of load. It is very likely that when coming to a stop sign or light, the load could push the tow vehicle right through and into the cross traffic due to the fact that the stop distance is lengthened by about double and the driver does not know. This is a very very dangerous situation. Given, trailer brakes can take care of most of this, but rental trailers seldom have trailer brakes in working order
What it all boils down to is this: The liberty definitely has enough umph to pull that bobcat down the road. The control will be drastically reduced (compared to a long wheelbase vehicle) and rollovers could be of great concern. Stopping will be iffy at best and impossible in an emergency situation (ie a child runs into the street in front of you).
I would highly recommend that you do not attempt to use the Liberty to pull anything close to or over the load limit. Certainly don't do it just to "show them", especially if you have access to another more suited vehicle. If you do try it, keep it very slow, load the trailer 60/40 to the front, give yourself double to triple the stopping time, and, oh yeah, keep it slow. And if at all possible, use a long wheelbase vehicle or have it delivered.
Hope this helps,
-Adam