In theory, yep. In practice, lots of software work is basically an exercise in interpersonal collaboration logistics for which physical colocation is still the most common approach. I've long been hopeful that we'd break out of that model and achieve the geographic redistribution that the parent commenter is hopeful for, but that it hasn't happened yet makes me think there is something more to it than it seems.
Many many aren't. One of the reasons I left EA was because half of my team was given the task of training a team of outsourced people to replace them.
Yes, there are still plenty of programming jobs in the US, in large part because a key part of the job is translating human requirements into code. That means that knowing the language and culture are valuable assets. Also, English is the lingua franca of software, which helps.
But a lot of them aren't anymore. I'd say 70% of my team is offshore. Before it became popular to offshore, they would have all been local. There's been many offices around me in the financial industry that have consolidated IT departments into much smaller local shops, closing offices here.
Sounds like over-rationalization to me. Tech jobs don’t need to be done in the US for obscene amounts of money, yet they are.