Ultimately this is a balance between human well being and accounting well-fare.
The former is so far and away more important than the latter it should not even be a debate.
Re: Human Well Being
1. The danger of this disease is completely unappreciated
There are children dying now, relatively young, low risk people having strokes, many extremely rapid progressions with no explanation, and evidence of absolutely unprecedented long term/permanent damage in organs of survivors. Every single medical person seeing this disease up close is terrified of it.
2. We don't know what reasonable health precautions are
Here I define "reasonable" as- not have every trip to a public space be a game of Russian Roulette.
We are still finding out how the disease spreads, how it acts in the body, what the impacts are- while working through all sorts of fictional reporting from early outbreak centers. We have speculative assertions about immunity, but little concrete evidence. We are very, very far from having a solid, simple, conveyable understanding of what behaviors to engage in in what circumstances, what behaviors not to, and what to do upon possible exposure that is not essential what is being done in "lockdown."
3. We don't have reasonable health governance
In the US we are seeing not only the complete breakdown of rational behavior on the part of the federal government, but also the rise of mafioso behavior in using law enforcement to disrupt normal medical supply delivery.
4. We are a long way from reliable, preventative protocol
Despite all the dollars and efforts going into these efforts it takes time to build up sufficient proof and understanding. 9 women cannot work together to produce a baby in a month.
This is an absolutely unprecedented-in-modern-history human disaster. It is not in any way contained. We are only maybe coming to the end of the beginning.
From an accounting welfare perspective-
The problem businesses and individuals are facing are very simple-
Contractual dollar flows, set up during "normal" times, are largely still expected in these absolutely not normal times.
There is no mechanism to suspend these contracts, no collection of them, no standardization, no understanding of the implications of suspensions other than widespread financial badness.
The flows have to be maintained.
Having the source of all dollars mint them to maintain these flows for an extended period is not hard from a policy perspective, not hard from an implementation perspective, not hard even from a financial system implication perspective.
Maintaining lockdown with a central bank balance sheet funded UBI is the only answer.
It should be so blindingly obvious.