From my experience, I think the nationwide decline in the number of U.S. students going into IT and computer fields is partly because of the wide variety of other career paths that are available. The author of the Computerworld article mentioned that many people who would have otherwise been interested in the computer field have gone into biology as a major; especially in the Bay Area, with its many prominent biotech firms, for people who are interested in technology, that can be a very attractive career path. It also seems to have more of a human element than working with computers all day.
I am planning on a career in either politics or law, so I don't worry that my job could be vulnerable to outsourcing -- it is not possible for someone in India (or any other country, or state for that matter) to practice law, or run for office, in California! As in any career, I can protect my niche by constantly learning and making sure I am up-to-date on developments in my field.