This cite is to p1 of a 2005 Business Round Table report entitled "Tapping America's Potential: The Education for Innovation Initiative" and is reasonably widely quoted by education organizations, federal legislators, and state governments.

The report in turn cites an analysis done by Nobel laureate Richard E. Smalley and presented to the President's Council of Advisors on Science & Technology in 2003. Smalley did an analysis of NSF data on Science & Engineering Doctorate Awards and compared it to the NSB Science and Engineering Indicators data to arrive at the trendlines and make the statement.

Another use is presented in a guest editorial in the 3/25/2006 Current Science, by Subbiah Arunachalam:

"While the 20th century had the arms race, the competi-
tion in this century will be a brains race, says science policy analyst Michael Lubell of the American Physical Society. ‘Today’s Sputnik? It’s a little bigger. It’s called China’.
Twenty years ago the United States, Japan and China
each graduated a similar number of engineers, with South Korea graduating about half as many. By 2000, Japan has
increased its output by 42% to 103,200, South Korea has
recorded an 140% increase to 57,650 engineers, according
to Jischke. In contrast, the number of US engineering
graduates had declined by 20% to less than 60,000. In 2004,
China graduated 500,000 engineers, India, 200,000, and
North America, 70,000, says a National Academy of Sci-
ences report. If this trend persists, then by 2010 more
than 90% of all scientists and engineers will live in Asia,
fears Jischke. Besides, one US chemist’s or engineer’s sal-
ary is enough to hire five Chinese chemists or 11 Indian
engineers." (Jischke is Purdue President Martin C. Jischke, cited from a January 2006 speech)

Business Round Table:
http://64.203.97.43/pdf/20050803001TAPfinalnb.pdf
Current Science:
http://www.ias.ac.in/currsci/mar252006/745.pdf
Sen. Mary Landreau: http://www.neiweb.org/uploadpdf/OpEd%20Article.pdf
Sen. Kay Bailey Hutchison:
http://www.senate.gov/~hutchison/speech556.html
New York State Education Department:
http://usny.nysed.gov/summit/summit_call.pdf