It seems like social engineering and it seems backwards to me. I think it is related to the push for universal health care. Historically, docs were small biz solid republicans, but foreign docs like government paid health care. It may just be that pols have been cheap, though. Yes, I would pull back on foreign docs, though it probably could not be done all at once. Probably, I would exempt world class researchers.
Likewise, I would look at IT training and adjust it so that we didn't need so many H1B visas there either. In the land of opportunity, immigration policy should not be cutting out good opportunities. But I would also adjust the low skill number (now 5,000 of 1m) to reflect actual demand and let the cream rise to the top; in the future generations of that pool, too.
I see the plethora of H1Bs themselves as being social engineering. If the jobs H1Bs take were secure and paid what the market demanded, America's youth would be much more inclined to consider advanced education. But our social engineers in Washington look for quick fixes, and instead of truly improving education, making it more available, and considering the impact of job security on career choices, all they need is a fresh crop of H1Bs any time there's a dearth of one profession or another.