To be fair, the bill's goal is to stop piracy. Granted, it's crippling the internet in the process, but I think calling it an "anti-piracy" bill is pretty accurate.
If anything, continued or increased economic slowdown will increase piracy, as people have both less disposable income and less regard for increasingly abused intellectual property rights.
I think you may be right, but only if you consider piracy to not be part of "the economy". My understanding at least is that it very much is.