[Feldkurat_Katz]

Furthermore, since 1999 half of the PhD's earned in the U.S. - according to the survey - were by foreign students. I would say this is proof that we aren't educating enough of our own students in this areas if we are filling our universities with foreign students.

No, it isn't. All it means is that the prospect of toiling for five years getting paid $15k/year, with the prospect of finding a $40k/year postdoc is not an attractive option for American citizens. It is, however, very attractive for citizens of China, India and the countries of the former Soviet bloc.

[Serenissima Venezia]

I don't believe that a physicist/engineer/mathematician with a PhD would make $40K a year.

A newly graduated engineer with no experience should start off making more than that and mathematicians/physicists probably around $40K (joboutlook.com). An engineer with a PE averages $100K a year. So I believe your numbers aren't quite right.

I imagine there are the occasional people who have done through a lot of schooling and still couldn't be the job the wanted, but I don't think it's most of the graduates. I did work with a teacher with a biomedical EE MS degree who couldn't get a job in his field, but his field is pretty specialized. And he had some odd mannerisms and a very arrogant attitude, which may have put off some employers. He is, however, making an excellent teacher (but not making much money.)