has said that the top five universities in the world and 18 of the top 25 are located in the United States) is now severely challenged by often-draconian budget cuts, tuition increases, and faculty layoffs. State funding of our public universities has reached a 25-year low, with budget reductions already imposed that average 24 percent (plus inflation)—and more is clearly in store. What is not too subtly occurring is a de facto privatizing of our public universities, with present and future students footing the bill—while foreign institutions seek to attract our most promising faculty members. The writer recently visited one foreign university that had added 14 new senior faculty members—of these, 13 came from the United States.Ironically, in spite of these trends, there will most likely be no engineer shortage in America. Our firms will simply continue to move their engineering work overseas, along with their research laboratories and the new jobs thereby created across the employment spectrum.