The truth is that the airline industry faces extreme cost pressures when compared to other forms of transportation e.g. rail simply because most people are not willing to pay any more than the absolute minimum for their flights, and market forces are driving the airline industry to the bottom. Even Fedex doesn't face this kind of competitive pressure.
Flying is so safe these days that the travelling public don't actually care about safety anymore, all they care about is price. This is why we are hearing about pay toilets and "standing" seats. People are more than willing to pay peanuts and let monkeys sit in the cockpit.
How could anybody be stupid enough to suggest getting rid of the 2 cockpit crew? Airliners are always operated with the basis of having backups.
The same thing has been said about F/Es, 200hr pay to fly cadets and ETOPS. It's the beancounters who run the airlines and pilots ultimately have to depend on them for employment. Complain to the govt about safety if you want to, but in this free market deregulation environment they won't bat an eyelid unless planes start falling out of the sky en masse. Have a look at the Colgan crash, how much did the findings improve T&Cs within the industry? Almost none.
If the governments certify it, the beancounters would buy it, the unions would be powerless (Look how well Ansett's 3-man 767 worked out) and the pilots would be out of a job.