Well stated.
As long as there is money to be made and jobs to be had, our elected officials will continue to look the other way when it comes to incidents like this.
Security theatre was job one behind the creation of the TSA; job two was a huge employment drive for the people under the auspice of a benevolent organization.
Since these two drivers are so deeply embedded in the duties that government understands as its primary mandates, there is no way they can see any faults in the system.
Also, consider what would happen if we eliminated the TSA
TSA has 62,000 employees and an annual budget in 2013 of $7.9 billion [http://www.downsizinggovernment.org/homeland-security/tsa]
Laying off 62,000 people from the government payroll and eliminating $8 billion in funding would constitute a significant hit on the economy, and practically guarantees you won't be re-elected.