The U.S. IT (and others) industry needs a free flow of talent--probably more free than we have. That'll take addressing the abuse, fear, and retraining problems that stand in the way.

This excellent article from Information Week does an excellent job of outlining the issues, history and current status of the USA's H1-B Visa program.

"While some argue passionately that these additional H-1B workers will only take jobs away from American tech workers, the opposing view is that the increase will actually create jobs. Smart foreign-born overachievers allowed to work--and perhaps stay--in the United States could help provide new ideas and expertise to drive technology innovation in this country, creating more jobs for the future. Those new jobs might require different skills than are needed today, but that's just the point: Technology is evolving, and the U.S. workforce needs to make sure it can keep up with changing demands."

I think we need all of the smart talent we can get, it is up to leaders and managers to put this brainpower to work, profitably.

Read the article, Why We Need the H1-B