If the FAA required an ATP for FO's all that would happen is the 0-hero bottom-feeder pilot mills would make extra money. A large percentage of regional newhires (even during the big hiring boom) already have ATPs. 90% of my newhire class had over 1500 hrs and at least half had ATPs. The Colgan captain had an ATP and the FO could have had one if she had paid 3000 dollars one weekend to get it in a Seminole. Requiring an ATP for hiring is nonsense. There are no more 500 hour FOs. They all have a year experience now at whatever airline they went to. There probably won't be anymore either because airline economics has shifted. This is a moot point.

Raising FO pay isn't gonna help either because that will only encourage people to keep plopping down huge sums of money to fly because they can recoup it quicker.

The real fact of the matter is that flying is inherently dangerous. Yes safety is the number 1 priority always but ultimately people are going to die in flying accidents. Passengers also need to appreciate that if they want low fares on tickets then airlines are going to try and make that happen by creating a viable business model. That means cutting costs. In my opinion, the passengers are smart enough to realize this and they still choose to fly. They have no standing at all to complain. By the same token we know the job and still choose to fly so we deserve what we get as well.