Heh, if I had an answer for that, I'd be working to implement it, not dinking around on /.! :P
You can't just throw money at it, but taking money away from public education sure isn't going to make it better. Where my wife went to school while living in Mississippi the school was so poorly funded they were using books that were decades old (and incorrect!), they didn't have enough for all the students so they had to share, had missing/broken windows, and the whole place was in a substantial state of disrepair.
If folks want to cut public education funding to the bone, fine, but don't be surprised when graduation rates drop to the 40% range.
I am a bit spoiled though, my highschool (in south central Wisconsin) had a 97% graduation rate. And the school my son is going to (about 15 miles away from my old school) has had a 100% graduation rate for the last 3 consecutive years. Sure, my property taxes are astronomical compared to Mississippi, but knowing that my son, and all of the kids in his generation, are growing up with the assumption that graduating highschool and persuing secondary education and a career is the "normal" thing to do is damn well worth it!