I came upon a comment on another forum today and one user responding to another suggested that a CS degree is really only good for one through two years at the most, and after that its as if you never had it. Is this really true? is this what employers think?

When I did CS I never learned anything new, we learned fundamentals like data structures, algorithms, time complexity, OS fundamentals, language characteristics. Most of this stuff has been around for the past 20 years or so.