I appreciate the advice, guys, but basically I am screwed. My employer is a monopoly and management couldn't screw up the economics of the business no matter how hard they try. As a result, this place is chronically poorly managed. My direct boss is sympathetic, but ultimately has no say. My options are go along with it or pound sand.
Ask for more comp at merit raise time? Hah! Amid record profits for years, we haven't had a raise that has even kept up with inflation.
Hiring quickly? Hah! Let's see, they haven't replaced the guy who left in March. They interviewed a fabulous candidate for the guy who left in August. I met her and she was perfect for the job. However, management has decided to pull back and wait it out a bit. Now we have another person leaving, and I know for a fact that another person on the team will be out of here within a month or two at the outside (he has talked to me about his search).
Basically, I will smile, do as little as possible to get the additional stuff done, and be out of here in 6 to 9 months. I am basically only hanging on so that I vest some substantial 401k money. In the mean time, they can kiss my ass if they think I am working extra hours to accomodate them.
Sorry for the vent, but I am very frustrated at the moment.