I'm afraid you fail to understand the complexities of reopening a railway line, it really is an awful lot more involved than the local authorities and pressure groups just badgering the Government. There are disused and long-closed routes up and down the country with various bodies supporting their rejoining the national network, in some cases with great vigor. Sadly, many of them will not reopen any time in the near future, if indeed at all. It would be wonderful if they did, but they simply won't. Network Rail has to allot it's available funding to the various projects required for each set period of time, it can't simply wave a magic wand and set about reopening railway lines here there and everywhere. Needless to say those funds are stretched greatly, and compromises will always be required. Add to this the need to find extra rolling stock to run new services, the additional train paths required over the connecting parts of the existing network, and so on, and the true cost becomes very clear.
Times are tough and the powers that be are spending very cautiously indeed; look at the plans to electrify only half the running lines to Wales as part of the GWML wiring. Upgrading and maintaining the network we already have is likely to remain the priority over and above the reopening of new routes, for some time to come. If the real world prospects of reopening your local line are close to nil, then a busway should be welcomed as a substantial improvement over nothing at all.