"3rd fare hike in 3 years".... REALLY?!

I officially detest the MTA for their poor management skills! I remember when it only costs a token for a one way ride, and now, an arm and a leg. In my opinion, the commuters have little say in the decision process due to the "monopoly" the MTA has formed; no other mass transit really exist for city transportation so there's a lack of competition. Therefore, despite the fare hike, demand will remain pretty much the same due to the inelasticity of demand. In my opinion, the MTA will always have their hands out, asking for more, because it doesn't seem challenging for them to get what they want. This is the third hike in 3 years and it'll only get higher (can you really imagine a decrease in price?). Regardless of the tax-payer-bailout money they received and the millions they generate daily, this doesn't seem to be enough in the eyes of the MTA?! To add insult to injury, they plan to cut service, layoff workers, not to mention, made a fuss about external auditors reviewing their books. For those who reside on alternatives to combat these hikes, such as driving, well the MTA has got that covered as well as they plan on increasing bridge tolls; as if drivers don't have to deal with already overwhelmed costs of maintenance and gas as well as the citys' parking regulations. What it really comes down to, the MTA is securing more money for pursuing their wasteful and unnecessary projects. From computerized trains, to new luxury headquarters on the West Side, to constructing the 2nd avenue line, to switching the V line to M, to paying hundreds of millions of dollars on overtime pay for their employees and to the accounting errors in budgeting, one can only conclude the MTA is notorious for wasteful spending. I question the MTAs' opinion on the threshold of fare hikes or if even a threshold exists.