The economy will be in the doldrums for quite some time, but the budget can cope.
The forecasts in the governments economic statement are "best case". They assume no further outbreaks of coronavirus.
44 of the 50 leading economists surveyed by Economic Society and The Conversation back running up more debt to support the economy. Only three do not.
Going GST-free for six months would cost the budget $35 billion. Very little of it would be wasted.
The scheme will encourage people who can't afford to buy homes or are homeless to believe the government has forgotten them.
It's far too early to declare victory. The need for conventional economic stimulus has just begun.
Decisions about the spending of enormous amounts are about to be made quickly. Here are eight rules to determine value for money.
We'll need to spend at least an extra 15-20% of GDP per year. It'll be more palatable if it is funded by COVID bonds.
The unintended loophole allows some people to keep their income and cut the tax rate on some of it to 15%.
There are signs of unintended consequences, and as big as the payments are, they are less generous than those in the UK.
The scheme will see the government becoming paymaster for almost half the Australian workforce.
The OECD estimates have Australia less hit than most, but they are only partial and point to Australia's worst recession on record.
It's best to decide how the losses should be borne, rather than have it dictated by events.
Victoria and NSW have demonstrated that a severe and relatively short shutdown is still possible.
Although unpleasant, stopping almost everything for eight to twelve weeks might be the best way to bounce back qucikly.
The government has announced it's $17.6 billion stimulus package, focused on investment in business, boosting cashflow, and putting cash in the hands of lower income earners.
The government's has detailed it stimulus measures, which will include a $25,000 cash flow boost for small and medium-sized businesses.
The Fed and Congress have little ammunition available for fighting an economic downturn if COVID-19 triggers one.
Every one of the 13 economists surveyed by The Conversation thinks more stimulus is needed. None think it should all come from the Reserve Bank. Most think the budget surplus can wait.
Just a few hours after birth, infants show a preference for human faces. Over the next few months, they learn from facial expressions.