Heh - Yup, it's been pretty much pay cuts in the end. It's a real pain when you dont go out to dinner or vacations and still keep living paycheck to paycheck as everything gets more expensive.
Around this part of the US there are jobs, but ever since the economic downturn the pay never rebounded, and now that employers realize they can get us developers cheaper, I don't expect them ever to go up that much any time soon.
Given also that I can work from home, and am the sole support of my family, I don't want to take the risk of getting in an even worse position.
This is why I spend many, many hours trying/doing side work to pay the bills. Here's to hoping my upcoming saas will actually gain traction...