This is just my personal opinion and I am interested in hearing others opinions.
I know the economy is poor right now and like most have no idea when it will pick back up again. Horses being considered a "luxury item" tend to be on of the first things people cut back on along with the other "luxury items. Personally, I don't consider them luxury, I learned a long time ago that horses in my life are almost as neccesary as breathing.
So to the breeding issue. Many people say that responsible breeders should stop breeding due to the poor economy and the surplus of unwanted hroses.
My opinion is that is if all the responsible breeders stop breeding that will only leave the irresponsible breeders breeding (because we know they are not going to stop), which will lead to a surplus of poorly bred horses in the future and little quality to build back upon once things turn around again.