I'm a highschool math/physics teacher and I deal with students on a daily basis who have no idea how to deal with fractions, percentages, how to represent a situation algebraically or how to solve an algebraic equation. The prerequisite to my physics course is to have passed Algebra I and Geometry with an average of 80%.
After reading, I'm under the impression that the study does not suggest removal of math from school altogether, but merely removing it from the earlier curriculum (1st - 5th grade). I'm not entirely sure what the equivalency is here in the US, but this much I do know: more complex math concepts keep getting pushed down into the lower grade levels. The average 5th-grader does not have the capacity to do algebra. That needs to go... as well as all of this "lattice multiplication" business.