Solution: gene therapy
I think, despite what most Americans would say, intelligence and ambition are simply not valued enough. Most parents don't emphasize education enough because that kind of culture does not exist here. Too many mixed messages, not enough focus. We admire entertainment figures, etc., other mediocrities when we should be admiring those who are intellectually great. Resolve this and the problem of public education will go a long way towards fixing itself I think.
Obviously, I do not mean this to be the panacea - there are many problems including the unequal quality of public schools, etc. that need to be resolved.
Being a child of asian parents, that kind of stuff was hammered down hard. Although, I would say that I didn't really start doing well in school (by my standards) until after my parents started laying off on the pressure (during 10th grade).
I would do a few things differently if I have a kid. Creativity must be emphasized - art, music classes, and a steady diet of film/art gallery/architecture/concert exposure. Also, I'd instill in her or him an aspiration for greatness - she or he should settle for nothing less than being a Feynman or a Huntington or a Stiglitz. I wouldn't make it too explicit, as I don't think that is necessary - lead by example. I would also read to him or her a steady diet of physics, Joyce, New England Journal of Medicine, Foriegn Affairs, Carnap, etc. etc. I think trying to make the kid enthusiastic about learning is the key. Unfortunately the most interesting things are not learned until college or afterwards, so it would be my aim to introduce these interesting things a little earlier, dumbed down of course.