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In the abstract I agree with you. The problem is that this administration has implemented this with absolutely no plan, no consultation, no protocols for implementations and no way to transition. To do what you suggest requires years of deliberate planning and funding of sciences so that there is continuity as the nation builds its domestic STEM workforce. Which by the were ALL THINGS NSF was studying and implementing before the administration gutted them.
Yeah, I don't think Taco just whipping off EOs on a half-baked whim is the best way to go. These kinds of things need to have proper planning and consideration, in my view. Not thinking of the unintended consequences is partly how we got here in the first place when it comes to H-1Bs; people should really think about how to protect American jobs while also thinking about the long view when it comes to scientific research and education, too. Obviously, for industry, something like offshoring would also have to be considered and taxed accordingly.
In addition, if people perceive that this is being done just for Taco and his ilk's xenophobia - and it probably is - that could wildly backfire on any future efforts for cooler heads to properly address what has been an egregiously abused system.
When it comes to how we handle science and research in this country - ideally we could have shielded all of that from the toddler in chief - he's doing all kinds of things to wreck any kind of edge we might want to maintain in research. In an ideal world we'd obviously vet students that are here and do everything possible to keep them here, but as free agents so they are not working under distorted and unfair market conditions. We'd obviously want to find and entice the best and brightest people from all over the globe and do everything to repair the ruin that Taco has brought down on our culture so that they feel welcomed and wanted here. Having Taco and the kind of people he surrounds himself with in charge is going to make that very hard. I'm sure quite a few people watched thugs rounding up those Korean workers and are going to nope out on ever coming here.