Unfortunately, concerns regarding the decline in undergraduate computer science enrollment are already being realized.
InformationWeek summarized the report released by the AeA as stating that the United States has lost its competitive edge just as other countries are becoming more aggressive in technological pursuits. But the 32 page report is not all doom and gloom. It includes both immediate and ongoing recommendations to alleviate this crisis.
Some more good news is that is seems like federal legislators want to make technology more of a priority. Hopefully it is not too late to regain that competitive edge.