Is the US producing too many librarians?

http://www.inthelibrarywiththeleadpipe.org/2011/is-the-united-states-training-too-many-librarians-or-too-few-part-1/

There are a lot of stats in this article, so feel free to just skim over those (because since you're probably not a librarian or have no plans to be one, they probably don't matter much to you). But what I like about this article is that it points out that the few stats out there related to MLIS programs and the prospects for librarians in the job market tend to not be very good. So while library school is seen as a better risk than, say, law school- in the economy today, people want to know what their prospects are.
I think what is helpful for an MLIS is that you can work in a library with the degree. You can also work for private companies, hospitals, non profits, etc in many different kinds of jobs. Huge companies have their own internal libraries or databases, and MLIS grads can do that also. That's a big gap the stats are missing- there has been tracking of how many library openings there are, but there is no tracking of more "non traditional" job roles that MLIS grads take on.
So the article doesn't give a definite answer to the question- but since I'll be graduating next summer, it's definitely some food for thought for me.