Caltrain cuts - less is more?

Caltrain has a Proposed schedule that would slash a number of trains and raise fares and parking costs.
With my current job, caltrain doesn't come in the picture (I usually bike, though I have walked, and plan on one day starting to jog there - at least after I find a good place to shower.)

However, in my previous position, I took the train on a semi-regular basis. However, the schedule had something to be desired. During rush hour, there were three trains per hour. Unfortunately, they were all in the first 20 minutes of the hour. The "cutback" plan increases the trains to 4 per hour, with the longest gap being about 19 minutes. They do make a couple more stops, but all the trains skip at least one station, making the time to Palo Alto 15 minutes on each train.

Since I usually had child responsibilities, the AM "commute" trains were rarely an option anyway. However, with the new schedule, the 8:44 and 8:55 trains would be distinct possibilities - with both skipping a stop (and thus arriving faster.) Those are followed by a couple all-stop trains every half hour (which were my normal trains.) Those were moved ten minutes earlier - meaning with a bike I could get to work earlier. By the bus, however, they now leave a couple minutes before the bus arrives. D'oh!

PM trains also look good, with 4 trains per hour, fairly evenly spaced.

For bus service, there are AM rush hour trains that leave 9 minutes after the 54 bus arrives. This is a fairly reasonable gap to allow catching the train without fear, while not having an excessive wait. For PM trains, there is a train that arrives 7 minutes before each bus leaves. Again, great timing. (The off peak trains, alas are timed almost perfectly to miss the buses.)

Weekend trains also see a big improvement, with the shuttering of many of the train stations. The last time we took a weekend trains, it took forever, with the train stopping at stations like Atherton for perhaps one passenger. (Though the person I saw walking away was with a dog, so he may have just been crossing the tracks.) The shuttering of some of the weekend stations will make the trips much faster and more reasonable.

The pitiful state of Caltrain funding

A google news search for caltrain reveals the problem with transit funding in the U.S.

• Caltrain could go broke with $30 million annual shortfall
  
  
• Caltrain nearing start of $1.2 billion electrification job
  

In the worst case, there is a $30 annual operating deficit that could lead to a slashing of half of the train service. Meanwhile, there is $1.2 billion floating around to make improvements to the tracks. If one of us were faced with a similar situation, we could through the $1.2 billion in the bank. If we can get at least 2.5% return, there would be enough to cover the operating deficit.

Instead, in our wonderful world, there is an iron wall separating operating and capital expenses. Thus we get a lot of new transit infrastructure that is rarely used, while transit that is used rots away. For transit to be successful, there must be a long term commitment. Transit friendly housing, shopping and offices depend on reliable transit. A train station is more likely to attract development than a bus stop in part due to the commitment. However, if the trains don't run, even a train station doesn't do much good.

Recently, millions of dollars were spent on extending BART to SFO, including a giant viaduct from Millbrae to SFO that rarely sees trains. VTA would like to spend another $6 billion for a dozen miles of BART track. In a rationale world, they would simply send some of that money to maintain operations of existing bus and train lines. But instead, we'll just let the existing transit go broke, siphoning off ridership and driving more people (against their will) to their cars.