This is what has been happening during the coronavirus crisis as central governments and banks send out large amounts of money and credit. Note that you don’t hear anyone complaining about the money and credit creation; in fact, people say that governments would be cheap and cruel if they didn’t provide a lot more of it. Hardly anyone acknowledges that governments don’t actually have this money to give out. Governments aren’t rich entities with piles of money lying around. They are just their people collectively, who will ultimately have to pay for the creation and giving out of money.
