"Microsoft started doing this along time ago because there were not enough high quality employees in the US to draw from. In India there are many who outqualify most of the US candidates." The qualification issue is simply not true in my experience. Those replacing me have a little more than a years experience and it shows significantly. Microsoft opened a campus in India to train workers. They could have done just the same here. But it was so much cheaper. They even teach english over there and concentrate hard on trying to rid them of the Indian accent so they sound more American.
The only thing that makes it a party issue is that one candidate actually talks about doing something about it whereas the other states it's good for us.
Any job that can be trasmitted is going out of the country. Programming, Call centers, tax prep, accounting, radiology (isn't that weird?), you name it. If it's something that can be transmitted as data then those careers are gone. Small business needs to be alarmed as well. If your customers wages are dropping then your profits are going to drop too unless you are willing to give the axe or pay cuts to your long time employees. When this hits rock bottom, if it does, it will make the oil bust in Texas seem like nothing. When wage's plummet or disappear and people are stuck in mortgages that they can't get out of because the house is worth less than the mortgage we'll see record bankruptices although we are already seeing record bankruptcies.

PS, I've always been for a ban on sending our food supply (fish) over seas while there's a shortage of it right here.