This is absolutely NOT TRUE. There are thousands upon thousands of pilots on the street RIGHT NOW. Look at AA's furlough numbers, they have 1,900 pilots on the street right now and have been for almost 9 years. Look at Comair, they went from 2,000 pilots to around 980 with more scheduled to hit the pavement... I could go on and on.

The airlines have been in the process of cutting capacity and will continue to do so in order to decrease seat availability (increasing price)... it's supply and demand. They have learned that increasing market share by supersaturating the sky with aircraft and rapid growth is not a sustainable business practice.

When things turn around in this economy, you will see slow growth and replacement of retirees, some of which will be absorbed contraction to further facilitate decreased capacity. The pilots they will have to bring on board will be those of us who are furloughed. Despite what you have been hearing, there is no looming shortage.... the hiring spree we saw in 2007 will not likely happen again in the next decade.

If you want to fly, try the military, including the Coast Guard... the civilian side of aviation is in shambles. My advice would be to set yourself up with a good career in something outside of aviation and fly on the side.