Absolutely. Folks on H1Bs are basically indentured servants. This will only make it worse. So rather than one person losing a job, two people will. A lose of your job means that your spouse cannot work either. This is an unacceptable situation. Both immoral and unethical.
Further, this will have the effect of depressing middle and working class wages even further by increasing the labor pool. The spouses of H1Bs may not have unique skills, but rather will end up working anywhere. This increases the labor pool at a time when true unemployment is north of 15% - at Great Depression levels.
It's easy to say what's wrong. Now here's what the US should be doing: Granting green cards to foreigners who graduate with masters and phds. If the US is going to subside education of foreigners, then we should be retaining them.
Further, we should reduce the cost of college for all US citizens. It should not cost 25000 a year to attend a state school. If we need to build cheap and frugal dorms, then do it. If we need soup lines rather than McDonalds, then do it. If we need recycled text books, that's fine too. Let students do without a bit. They gladly will in exchange for cheap tuition. Pay the professors, but do not pay for facilities or sports.