Some of the local consulting companies I know have started using Indian companies to facilitate 24/7 progress on large-scale software projects. It's upsetting, but there is a bright side; the market in the US will soon dissipate due to the lack of interest for new grads, and that will leave the market open for people like myself. I'm already seeing a lot more consulting opportunities available simply because so many independents got scared and went to work for larger companies.
There are brighter days ahead if you can stay the course, imo.