This debate is already settled: this has everything to do with low, slave like wages that you can get from foreingers. There are qualified people in the US, but many are turning away from IT because the zeitgeist in the field is to send American jobs hand over fist to places like India.
The economy in India is taking off so much that some companies are finding it less expensive to hire American again. At least that is the report I heard on the radio this week.
The other side of the coin is that IT shops through the end of the 90's and into the 00's managed to demand - and get - obscene salary increases and bonuses in comparison to other fields. Face it, this has been a great time to be in IT.
Part of the problem is that some of us started to actually believe that we were worth it.