US is having a hard time with China and India?

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i have read an article in a business magazine that US is having a problem of employment because most of their company are outsourcing jobs from other countries like China and India. It is stated that companies prefer to hire employees from this two countries because of the low cost. Most of the highly needed are those engineering graduates which the two countries produces very year. compared to US, China and India have more graduates in that field. Do you think it will be a threat to US, the outsourcing thing because businessmen prefer low cost production yet with quality? Does US will be aware of it because it may affect their people?