USCIS announced today that the cap has been reached. All H-1B's received this week will be subject to a lottery. So far we don't know how many were received, but a lot of people are going to be very (and justifiably) angry.
Now the US can't tap into the worldwide talent pool for another 18 months. We need Congress to act NOW. Is this a sign of economic recovery? It is at least an indication. But one thing's for sure: it's a sign of how out-of-touch our immigration system is. There are clearly enough employers needing to hire foreign workers who are by definition highly skilled.
It does feel like 2007/2008 again. I hope Congressional action makes 2013 a different year.