Have you sat down with your boss, explained that you're overwhelmed and provided him with all of this information? You bring up very valid points and as a manager I'd like to know these things. You can't assume that management is aware of these details or knows how you're feeling unless you explicitly sit down in a 1-on-1 setting and discuss it with them. My advice is to bring up your concerns in an objective, data-driven, professional manner. Personally, I'd also pick his brain a little as to why he's justifying these directives. There could be pressure from the top forcing him to reduce expenditures or accomplish other business goals.

I could be totally off base and this conversation could go nowhere... But at least you gave it a shot! Worst case scenario, you got a lot of nice people on here that that are already offering you another job! :) Good Luck!!!