I agree, the business community will do one of two things.
A) Slow down offshoring until the heat is gone and then incrementally reintroduce it.
B) Continue at the same pace and risk government intervention.
If B happens and the government doesn't respond (or appear to respond) then the Republicans will earn their big business label.
I voted for Bush and support his foreign policy decisions but his domestic initiatives have been too left leaning for me (excepting the tax cuts).
B) Continue at the same pace and risk government intervention. There'll be no government intervention, except to limit the H1-Bs coming into the US.
It is possible, you know, for a business to completely offshore a particular function, thus taking it completely out of the country.
Competitiveness is the issue here: find lower-priced labor and costs and survive, or leave the function here and risk losing the entire business.