Does the 14th Amendment Grant Citizenship to Children of Foreigners?

Today, most people believe that children of illegal aliens who are born in the United States are automatically conferred citizenship by virtue of the 14th Amendment. American politicians regularly pontificate on this topic, basing their positions on constitutional and humanitarian grounds. The issue is considered settled by the federal courts, which have announced continually that this passage was meant to grant citizenship to the children of all foreigners and aliens.