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Anyway, if a government decided it monetary policy was more important than Bitcoin it would simply ban usage of Bitcoin and force everyone back to state issued currency. I don't believe there would be any reasonable argument for doing so, because I believe in a purely Bitcoin based economy there would be no business cycles and thus no need for monetary policy.
If you think about recessions in the recent past (the last 30-40 years or so), how many of them were caused by something fundamental like a natural disaster or disease? None of them. How many were caused by malfunctions of the financial system? All of them.
If you build a more stable financial system the need for centralized economic planning to try and stimulate spending would go away. There'd be no justification for it any more.
While I generally agree that a stricter, more predictable money supply would reduce the boom and bust cycles, I don't think we will ever eliminate business cycles completely. It seems to me that "easy money" exacerbates bubbles like the dot com and real estate bubbles, but you can still get over-investment without the government's "help."