Why not look for a new job while you're still employed and bail out the moment you find one?
Just don't let anyone at your current job know you're searching. They aren't too happy if they find out.
Also, if you quit, make sure to give a couple week's notice (or whatever's required by law, if you have a law which covers this). I quit one of my summer jobs at a grocery chain once without notice and they blacklisted me from ever working there again.
A few years ago the group I was working with started letting people go. I worked for a large company, so I began looking for a transfer so that I wouldn't be laid off too. I found one and move my family across the U.S. After about two months I realized that the group I worked remotely with (they were in another state) had no idea what they were doing.
To this day it is the worst code I've every seen. I wasn't aware that a group of people could write such hideous and un-maintainable code. You would think, way before it got to that point it would just implode and consume itself. But somehow it just go more unwieldy. It was Java, with a JBoss server that took minutes to start, had huge XML files that serialized all the data, and could only be stopped by using the linux 'kill' command.
And the customer paid millions for it. In the span of one year, I was never even able to get the software to build, yet alone run. I am not exaggerating. The team would change the design of the system every few days, and never talk to anyone else about it. Add a few developers doing that, and a boss who was only concerned with nice suits, good watches, and climbing the corporate ladder selling snake oil, and you had a nightmare.
There was no fixing it. I found another job. I bet they are still using it, and I feel sorry for whomever has come in contact with it. I came to the hard realization that there are some groups out there where everyone is in one of two groups: those too stupid to leave, and those too stuck to leave.