Conservatives? Maybe. But by speaking at Cato Pawlenty is trying to appeal to libertarians.
Pawlenty, speaking at the Cato Institute, a libertarian think tank that mixes conservative economics with liberal views of personal freedoms, said that in tackling the federal budget deficit, “There can be no more ducking, bobbing and weaving.”
Libertarians do not mix “conservative economics with liberal views of personal freedoms”. They are consistent defenders and promoters of liberty. Conservatives and progressives are mixed up. They mix and match to their personal preferences. See this post for an example.