From the frequent articles I see on HN and the subsequent reactions, would it be fair to say that this is the situation? There is no shortage of programmers. H

From the frequent articles I see on HN and the subsequent reactions, would it be fair to say that this is the situation? There is no shortage of programmers. However, there is a shortage of programmers (of X skill level) willing to work at the salary that a company desires. And that is where outsourcing and H1B comes in. Having a larger pool of candidates (at X skill level) will force the local candidate pool to lower their asking salary. In turn, this will allow companies to keep salaries deflated and profits up.