In my view, the decision to apply to b-school should not be based on something as unpredictable as the world/US economy.
But this factor has to do EVERYTHING with our decision to apply to bschool. It's a huge factor - almost 90% IMO.
Many people choose to go to bschool to enhance their career, to switch their field, to get better pay, and mostly to find a job.
If economic forecast affects the number of job openings, hiring freeze, and future hiring plans, then we should be concerned with world/US economy and account for this factor before applying to bschool.