Engineering Talent Supply and Demand -- What's your opinion?

Is there and engineering shortage -- or not? Should U.S. companies try to hire domestically, or just "go global?" Is there a moral stand to take, or should we allow the matter to become laissez faire?

So many complexities; so point-of-view dependent!

(I'm a U.S. parent) "Throughout their school years we've emphasized the importance of STEM-related (science, technology, engineering and math) courses to our children. We wanted them to have technical minds and aptitudes, and degrees that would prove a certain mental acuity that would improve their chances for a great career -- even better than their parents. We've spent hundreds of thousands of dollars to this end!

(I'm a non-U.S. parent) "We've done the same, and spent even more -- much more -- sending our children to U.S. universities.

(I'm a corporate hiring officer) "We can't find good engineering talent, and have a hard time keeping it when we do. U.S. candidates have such high expectations: security, flexibility, and excellent wages, too."

(I'm a U.S. engineering graduate, recent) "I need to build my project portfolio (and not maroon myself into a long-term project or position early on) in order to increase my value in a volatile job market where I can either float to the top or sink as a replaceable commodity."

NOW SOME INFORMATION:

1) At the 2014 Original Equipment Suppliers Association (OESA) 16th Annual Outlook Conference, Carl Camden, CEO of Kelly Services, pointed out that 600,000 manufacturing jobs went unfilled last year because managers said they couldn’t find qualified talent (OESA’s own research shows that three out of four North American automotive suppliers are having trouble finding engineering candidates). He went on to recommend analysis techniques to forecast and manage a company's "talent supply chain" and to embrace the concept of just-in-time talent acquisition for skill-specific positions.
Of course, his point of view comes as CEO of Kelly Services...temporary employment services.
(http://www.designnews.com/author.asp?section_id=1365&doc_id=278096&cid=nl.dn14.20150714&dfpPParams=ind_182,kw_8,aid_278096&dfpLayout=blog)

2) The National Center for Education Statistics reported that in 2009 only 54% of recently graduating engineers found employment in their field, and only 61.3% found employment in their field or a closely-related one. The rest? Among math and computer science recent grads, 61.9% found employment in their field or a closely related one.
(https://nces.ed.gov/programs/digest/d14/tables/dt14_505.50.asp?current=yes)

3) For FY2015, the United States Citizenship and Immigration Services (USCIS) announced that it received about 172,500 H-1B petitions (for temporary visas to fill engineering and/or technical positions in for-profit non-university positions) during the filing period which began April 1, including petitions filed for the advanced degree exemption. On 2015 April 13, the USCIS reported receipt of almost 233,000 H1B petitions, well in excess of the limits of 65,000 for the regular cap and 20,000 advanced-degree exemption. (https://en.wikipedia.org/wiki/H-1B_visa)

QUESTION AND ONGOING DEBATE: Should the H1-B cap be raised in view of reported shortages? Is there a shortage at all? Should recent U.S. STEM-related college grads be "protected" in the U.S. job market? Should we just go to a "global" talent supply chain?

Like so many issues, it depends on your point of view. Let's hear yours.