What exactly does your car do when the 02 sensor goes out? What are the symptoms?
Depends. The back one, which never goes bad, is behind the cat and it will throw a code if it is not working right or if your cat is no longer working.
The first one, only throws a code if it is DEAD. It will get slow and lazy long before it dies and it results in a substantial loss of fuel economy.

"The Blue Bullet"
Ok this is my problem... my car idles fine, once i give it gas it dogs down. Do you know if this is the problem? I mean it got worse and worse over the course of a few days
How much does an o2 sensor cost?
Roughly $50. That does not seem to be your problem. I think your problem is fuel related, start there.
Whats your latest MPG? And is that down from what you normally get? And by how much?

"The Blue Bullet"
When a code pops for your 02 sensor.. your computer will make the engine run rich, very rich. you'll loose power and burn more fuel.. i havnt seen an 02 sensor @ 50.. they are a vital little sensor.. the engine goes rich, because if it didnt and it were way lean... yeah
"Z24 Dustbunny"