If it were ONLY the employer that paid the price for poor-quality H-1B/offshore work, I'd stand back and laugh while the market exacted the penalty for shortsighted beancounting. The problem is that the American middle class will have been mauled before the lesson has been learned - and Latin America shows us what it means to not have a middle class. Ending work visas and discouraging offshoring will preserve America, with the icing of saving shortsighted beancounters from themselves.
Here in the greater NYC metro area, the beancounting jobs are going to Asians as well; Americans cost too much and want weekend/evenings for their families.