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When Pres. Eisenhower talked about "dynamic conservatism," he said that he meant that he would be conservative with money but liberal with people. This is supposed to mean that he did not want the government to spend a lot of money but that he did want to help people where possible.
This can be seen to some extent in Eisenhower's domestic policies. For example, Ike did a lot of budget cutting, trying to keep the government from spending too much. At the same time, however, he did not really try to undo any of the New Deal programs that he inherited. Instead, he did things like expanding the coverage of Social Security (making more people eligible for it) and increasing benefit levels. He also presided over increases in the minimum wage and in federal spending on public health.
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