I think that some posters here are trying to console or assure themselves of something when they think that a degree is somehow eternal.
Unless you've possibly got an eidetic memory then knowledge and skills, un-maintained, will degrade over time.
The implication here is: the importance lies in what you've been doing since you graduated. Honestly, if someone got a comp-sci degree 10 years ago, and has been delivering the mail1 and not actively working in their field (paid or not), then their degree means little to nothing.
If, on the other hand, you haven't been able to get work for a couple of years, but you've contributed to some OS projects, worked on some hobby projects, published an article or two, made a website for your uncle's bakery and maintained a blog about whatever your programming interest are, then you're just as good (or better in some cases) as someone who graduated and has worked full-time since.
1 Occupation chosen at random, there's nothing wrong with delivering the mail - it's just not programming related.