Jeff Atwood quotes an interview with David Parnas in his most recent blog post.
Q: What is the most often-overlooked risk in software engineering?
A: Incompetent programmers. There are estimates that the number of programmers needed in the U.S. exceeds 200,000. This is entirely misleading. It is not a quantity problem; we have a quality problem. One bad programmer can easily create two new jobs a year. Hiring more bad programmers will just increase our perceived need for them. If we had more good programmers, and could easily identify them, we would need fewer, not more.