economy on the brink? Need advice

I apologize for posting here, since we are all anxiously awaiting 12-21-12 and all but I have a question and I don't know where else to turn. I await all responses eagerly.

when I got out of high school I went into the army. After 4 years I got out and went to college. I went to a small local college and got my degree in mechanical engineering.. Straight out of college I got a job at Ford. I worked there for several years but was quite bored so I left and went into another industry. For the following 14 years I was the sole engineer at a small company. But the company sold and the new owners bankrupted it. So I went back to a large (global) company. My supervisor for the past 5 years is not an engineer. He has a science degree. I am the sole design engineer at the company and design everything we make. In addition I code all of our cnc machines to keep the manufacturing centers working.. I don't consider myself heavily work loaded, which is why I am torn about my situation.

we recently have been told that the company is restructuring and is reviewing pay scales. So today I was told that I have maxed out on my pay scale and will not receive any more raises aside from an occasional cost of living allowance.. I have not received a raise in 4 years.

I make roughly $60,000 a year and am 42 but am quite unchallenged at work.

what are your opinions on this?

suck it up and count my blessings or is this unfair?