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Economists Defuse Outsourcing Angst

Some U.S. corporations are sending jobs — including high-tech information technology (search) jobs — overseas, but at least one economist says the effort to remain competitive in a tough global marketplace has resulted in plenty of jobs coming from abroad to the United States.

"If we want to stop all the outsourcing (search) of jobs, where foreign workers are employed by U.S. companies, than we should make sure that all the Honda workers in Ohio get fired, that all the BMW workers in South Carolina get fired, all the Sony workers, you know where I'm going," said Heritage Foundation economist Tim Kane.

Democrat John Kerry has tried to pound President Bush for supporting the idea of allowing American jobs to move overseas, but the president responds that Kerry's perspective is an isolationist view.

Bush has an unusual source on the same side of the issue with him — Robert Reich (search), a Democrat who served as secretary of Labor under Bill Clinton. Reich said the number of IT jobs moving overseas is small, and many more are expected to be created in the next 18 months. 

Click here to watch a complete report by Fox News' Brian Wilson.