How can a foreigner, with a foreign CS degree, get a job in the US without pursuing masters?

I would say the *cheapest* way to get a job in the US would be to win the greencard diversity lottery. If you or your married spouse were http://born%20in%20a%20copuntry%20eligible%20for%20the%20DV, you can participate for free (some costs apply should you win). Your http://en.wikipedia.org/wiki/Diversity_Immigrant_Visa, while not high enough to rely on winning, are far from negligible. The second alternative I would suggest is to find a job in a multinational company with strong US presence. After a year of working there you could be transferred to work in a US using visas meant for intra-company transfers (L-1A for multinational manager, L-1B for professional experts). These visas are not subject to caps as the H-1B program, the married spouse of a visa may apply for a working permit, the road to GC is rather quick from L-1A (from L-1B the GC process is equivalent to the H-1B one). The main downside of the L-1 program is that at least before you're pretty advanced in your GC process, you cannot change jobs as easily as with H-1B program, and you are very much dependent on your employer (employment termination usually means you have to leave the US rather quickly).

I would say best option is getting a degree from an American University, then apply for a job in U.S. Disclaimer:  The information provided is of a general nature and is not intended to be construed as legal advice

For an Indian, the *cheapest* way is to get into a fully funded PhD program.  You earn a modest stipend while studying while you are practically assured of a job post-completion if it's a stem degree. Also, it allows you to apply for different green card options with EB1 n EB2 etc in the long term.

Working for a multinational company and then hoping for a US transfer (L1) is a good option.   If you are really good and have niche skills, you might be able to attend online interviews for jobs in the US and hopefully get your employer to process a work visa (H1B) for you. But, I believe a lot depends on luck/lottery in the case of H1B these days and the timelines might be too long for employers to consider that option.