BusinessWeek recently ran an article about the current state of science and engeneering education in the United States. I haven't reviewed the actual research report cited in the article, but BusinessWeek does a nice job of summarizing the results.

The article, The Science Education Myth: Forget the conventional wisdom. U.S. schools are turning out more capable science and engineering grads than the job market can support, contridicts conventional wisdom. According to the article, the U.S. is doing a good job of preparing students in science and engineering.

From the article:

The authors of the report, the Urban Institute's Hal Salzman and Georgetown University professor Lindsay Lowell, show that math, science, and reading test scores at the primary and secondary level have increased over the past two decades, and U.S. students are now close to the top of international rankings. Perhaps just as surprising, the report finds that our education system actually produces more science and engineering graduates than the market demands.