Innovation and discovery comes from people with inquisitive minds - minds that have been nurtured by a well rounded education system; one that encourages critical thinking, experimentation, and a good understanding of what scientific knowledge we have already. Now look at what is happening in the US - a drastic cutback in public education, "teaching to the test", and in many areas, official dismissal of science and scientific discoveries. Quite a few school districts are actively pushing creationism against evolution, dismissing global climate change, and many "non-essential" curriculum activities.
I was once told "If you think the cost of education is expensive, consider the cost of ignorance."