American Education - Dumbed Down or Smartened Up?

Lately, I have been noticing some of my classes as well as others in my school learning about stuff we have learned or should have learned years ago. How do I know this? For one, it is common knowledge to those who are open-minded. Secondly, I had read "Grade 10" on a vocabulary book for students in a Grade 12 English class. I'm on the edge of thinking "We should have schools that are not regulated by the government so they can be competitive in education to be the best." When you think about the fact that some people aren't as fortunate as others in terms of finances, you feel like that is wrong as well. Either way, we can not be perfect -- this is true, but who's to say the United States Government can not raise the standards of our American general education curriculum. The better the education, the better the future - China is a perfect example with their high standards of education and better economy.