Unemployment Starts at Home

I've just read yet another article on US outsourcing to Asia for more and more IT jobs. Specifically, Corporate America's Silent Partner: India, via Slashdot. From the article:

True, corporations likely won't feel comfortable about openly talking about their offshore activities until job growth returns to the U.S.

Job growth? In the US? This is in an article about US corporations firing many of their workers. It will boost revenue in the short term, but what happens when all your old employees drain their savings and can't find a job without relocating to Bombay?

When I was a senior in high school deciding what college to attend the IT industry in the US was still going strong. By freshman year of college the market was busting. Professors assured us that things would turn around, and I believed it. I always thought there was a glut, that the industry needed to find its happy medium between booming and busting. If I thought there was a glut before, what will I think of the next year or two? More IT professionals will be laid off, and an increasing number of college graduates will become part of an already struggling job market.

Blech, ranting. Please, somebody, say you have good news for me.