Patrick Patrick Thibodeau writes at Computerworld:

In the 2006-'07 academic year, only 8,021 students graduated with computer science degrees from these schools — the lowest number of graduates this decade.

By contrast, in 2003-'04 — the high point of this decade — 14,185 students were awarded bachelor's degrees in computer science

Now, Bill Gates whines that the problem is not enough low-cost H-1b visas. Now, Japan, China, Taiwan and Singapore don't have anything like these low cost visas. Singapore does make extensive use of guest worker visas-and companies using them pay substantially for that privilege.

I once heard that "insanity is doing the same thing over and over and expecting a different result". What we have seen is that coupling H-1b expansion with declining US tech employment has meant that US students look for work elsewhere.