IT jobs outsourced to India, etc. - discussion

I have been reading more and more about how IT jobs are being outsourced to India and other countries. I am curious to hear the reactions of IT professionals in the US--employed or unemployed--who are affected by this.

Are you concerned about your future? If so, what have you done--or are you planning on doing? Are you considering alternative careers where you can still use your skills and knowledge? Have you considered going back to school for something else? Are there certain areas of IT which are relatively immune to outsourcing?

I'm curious as to the reaction of IT professionals in the US, and what they are doing to address the growing job/pay security concerns brought about by foreign outsourcing.

We had a large Credit Risk system cancelled and sent out to Indian contractors who promised the world, and needless to say couldn't deliver the product in twice the time we would have taken to complete it.

I think for simple applications where the spec is completely defined and pretty much static then go for it. But where there is a product which requires a certain amount of business knowledge or continued input from the client then they are a false economy.

Oh btw I'm in the UK and not US, and it is affecting us here as well.

I'm sure some business will go overseas, but there is still a huge accountability problem. What if the foreign business goes out of business, flakes on the project, etc. ?

Have you ever tried suing across international borders? The headache isn't worth the recovery. Even if you do win, just try collecting on the judgement. Much of this is also true here in the states, but it is a little easier.

At least for the present, I think many businesses will be hesistant to do business in this manner.

No offense meant to any overseas developers.

A business outsourcing to programmers in another county is no different that a business outsourcing to programmers outside thier own company. The same risks are involved (granted sometimes the risk value would increase when you cross a border, but it is still the same risk) and the same benefits are involved.
If a business has to go outside of it's own personnel to get something done they are going to go to who they feel are the best qualified at the best price they can manage. The reason why you see more jobs from india and the likes thereof is because they have found a niche in the market that local one have not fulfilled. Companies will also go outside even if they have the personnel but not the resources, or they are requiring a higher level of knowledge for the required project.
I personally don't feel threatened by this, it is just a normal part of business and is just typical competition. If you want to compete you have to get better and try to compete price-wise also.

Been reading /.?

Cuz it comes up there every now and then.