[fancifalmanima]

I don't think there's anything that would preclude the us government from selling bitcoin treasury bonds (accepting bitcoin with the promise to pay more back at a later date, basically). Even if the block chain didn't support it, the contract (bond) can still exist off-chain.

If it took off, and non technical people became more engaged in the space, I really don't see a reason to assume that traditional banks wouldn't accept bitcoin deposits and offer off-chain loans (re-creating the fractional reserve system we have today as well). Unless there was some law preventing it.

I think those two tools together would enable the US government to take on increasing debt loads in bitcoin, and to inflate the currency pool in one of the ways it's able to do with the dollar (the reserve ratio). So I'm sure they'll figure it out.