As a third grade teacher (the grade when it is often taught), I am split. There is a part of me that is glad that I know cursive and is happy to pass this skill to the next generation, but as the person tasked with teaching it, I find it hard to set aside time to do it. If you compare the sum total of things that a teacher has to cover now with the list 20 years ago, something has to give.....
1. Twenty years ago, there was no expectation in terms of what a kid could do with a computer. Now, the kids have their own laptops, and the expectation is that they know how to type prior to the PARCC (standardized test beginning in 3rd grade), and much more. At the beginning of the year, I have to decide: Do I spend this time teaching cursive, or do I teach them how to type?
2. Many schools have a social competency program. Considering parents don't let kids "hang out" outside in the neighborhood anymore, and considering they aren't learning social competency in other settings, I can see why many districts are in support of it. Whether you are in favor of these classes or not, they are a reality in many places.
3. A second language wasn't mandated in elementary schools 20 years ago. The program looks different in different districts, but most have time set aside for instruction.
4. Reading and writing used to be one period, but now it is often separate one-hour blocks. The expectations for both reading and writing output (in terms of # of books read and # of pieces published) have increased. Math used to be 45 minutes in many places, but most new math programs require at least an hour to do well.
I could go on, but those are the main ones. It isn't that cursive isn't something that I would include if given unlimited time, but it is definitely something that is hard to implement given the current state of the curriculum.