I disagree. King county voters just funded a $54 billion, 30+ year light rail and transit development plan last November[0]. I actually think this new rail plan has a great chance of happening.
Seattle, Bellevue, Redmond, and surrounding areas have a lot of enthusiasm for new transit. The traffic is getting outrageous, and people are genuinely interested in investing in alternatives to cars.
Heck, I take the light rail back from the airport nearly every time now. Plus, every time I drive to Portland I get trapped in Olympia traffic, and there's literally no highway to Vancouver proper. Fast, reliable rail would be a godsend!