Exxxxcellent!

Much talk has surfaced lately concerning provisions in the recent stimulus bill that curb hiring of workers through the H-1B visa program. The proposed restrictions only affect TARP recipients, and Science points out that the practical impact of the limits could be minimal:

The limits affect new hires, not existing holders of work-related visas. And while the amount of TARP money is staggering, the number of companies involved -- generally in the financial services industry -- is relatively small. Only about 1 percent of workers in this industry have H-1B visas.

Rejoice you bloodthirsty capitalists, here are a few reasons to celebrate!

1. Computer software is a high growth industry with great employment prospects, yet interest in computer science remains generally low. Silicon Valley relies on the H1-B hiring process to find skilled workers.
   
2. Immigrants start companies. See Google.
   
3. Exporting education services helps the US to reduce its global trade imbalances. We still have the best higher education system in the world, but inhibiting the prospects of employment in the US may deter foreign students.
   
4. Backdoor isolationism sends the wrong message to our allies and trading partners. We have much work to do in order to improve our global standing.
   

Addendum: This should be an interesting study