I have a simple solution. Cancel all H1B visas except for those that are truly recognized experts in their field, a requirement that used to be in effect. Next, go back to the prior policy of only allowing those into the country that ARE recognized experts. That should bring the allowable quota down to several hundred per year.
That IS the way it HAD been, and all was well. There never was a shortage of qualified engineers to begin with. It was simply another false claim by those whose greed exceeds their intelligence.
That action alone would put roughly 1 million US engineers back to work. With that many people going back to work and spending their money again, a healthy dose of cash would be infused back into the economy. As such, orders would pick up, other people would go back to work, and the economic crisis would evaporate...