Dan, I disagree with your premise. I'm not a liberal. I voted Republican in every election until Trump's nomination. However, I was trained as a biologist and the Army trained me as biological warfare officer. I can run the numbers and I understand how really bad this can get. The economy will dramatically contract whether or not the government mandates caution.
Unfortunately, you will see that in Arizona. As things get worse, because the needed precautions are not being taken, economic activity will slow to a crawl because of the sheer numbers of infected people.
Lives will be needlessly lost because of self-delusion and wishful thinking. The only thing that could possibly minimize bankruptcies would be government intervention — an anathema to the GOP. When the Senate had its chance to address the issue, it spent a lot of money but did't address the most important issue — business continuity. The cost really doesn't matter, because the cost of not doing it will be so much higher. The Congress will probably be handcuffed by ideologues when pragmatists are needed.
I learned in the rice paddies of Vietnam that wishful thinking and self-delusion are killers. We have a problem in the pandemic that we cannot wish away. We need to face it and minimize its consequences. If we continue to pretend we can ignore it, the loss of life will dwarf what we've already seen, and the economy will be even more seriously damaged.