Thank you for your advice. I thought about that. I'm trying to get out in another way - I'm starting a Master's (MBA) :) and reducing my debt at the same time.
The thing is, here in Uruguay job security is king - if you switch jobs you're a kind of pariah for a couple of years (OTOH if I get fired it's like winning the lottery, about 6 to 8 salaries plus benefits plus 6 months unemployment which for my sector is very good).
So I have to endure another 2 years while I do the MBA - and it's very likely that I'll get a significantly better job offer while I'm doing the MBA due to connections - I'll try to network heavily on the MBA, it's my number one goal from it.
Ironically I haven't been labeled a slacker (and I used to be a top student and respected worker) - my boss is too incompetent to even realize I'm slacking. My projects can't get any crappier though (ever heard of http://en.wikipedia.org/wiki/Forte_4GL ? Not a marketable skill ).
I hope to either get into a project management / CTO position, or start my own company.