[bobthepanda]

Reducing service, unless you want to do it really painfully, is unlikely to do much in the long run. A good chunk of the costs are employee related (health/pensions) and debt service. The MTA shouldn't default on its bonds, and in NYS you can't constitutionally modify government pensions after they've been given. And the MTA hires as many drivers and buys trains and buses based on peak demand; cutting off-peak is unlikely to do much since you wouldn't be reducing the absolute number of drivers you need.

In fact, cutting off-peak services would probably worsen the budget outlook long-term, since the marginal cost of an off-peak service is very low.