If someone says they are going to cut spending by getting rid of "waste, fraud, and abuse" they really aren't serious about cutting spending.
That seems to be to be an unqualified admission of and acceptance of defeat. How does that square with conservative values?
Reform of government is a value derived from Classical Liberalism, which was derived from the Enlightenment. Surely you've heard of those things? Among them are found the origins for the libertarian movement (small "ell") in this nation, the civil rights movement (not the bogus anti-white, reverse racism, leftist race-baiting industry, but the authentic one), egalitarianism ( not the obsessive Utopian forsaking of the good in search of the perfect, but real equal opportunity in line with Originalist doctrine).
Sophistic and Marxist dialectic has skewed the debate about government to the point now where few if any candidates for president even MENTION eliminating waste, fraud and abuse. The fact that you, a self-described conservative are cynically dismissive of even the idea of being serious about it speaks volumes about the success of the left in controlling the content of political debate in this nation.
Trump has spoken about eradicating waste by eradicating both the EPA and the Department of Education altogether which is a universe of separation from Hill-O-Lies who is clearly intent on giving both of those departments absolute and total immunity from oversite by either Congress or the Supreme Court through bureaucratic sleight-of-hand, to essentially convert them both into shadow governments with unlimited funding which cannot be cut, and wielding literally fascist powers of oppression over the population and business for which no appeal is permitted and which derive from foreign or "global" authority, not the U.S. Constitution or voters.