Regardless of my opinion on Covid bailouts (too big, too small, too many, too few) all such interventions are squeezing a balloon: you shift the problem temporally.

There’s nothing wrong with doing that (people sensibly borrow to purchase and use assets all the time). And when people are in the middle of a crisis it’s appropriate to take action (even in a drought the fire brigade sprays water on a fire).

But it’s worth looking retrospectively to figure out how much to do next time, not to be absolutist about it one way or the other.