We choose them, the represent us, and they are supposed to be us.
In the early 90's I read that the average American read and spoke at the fifth grade level. This taken from a screening of a cross section of adults with education levels that matched our nation. Criteria of the survey was born in the U.S., education completely within the U.S. except for foreign experience as a part of school (College trips abroad as a part of a class or major), and that the percentages of different education levels match the same percentage as the region they are from and that the over all balance match the national averages.
I think we should be selecting our best and brightest, but I also feel that it is sad we are ok with being a nation of idiots.
Take education away from the federal and state governments, put it back in the hands of the local community, and let the college entrance standards and workforce drive excellence. Remember, those that forged this nation were educated at home, in the Church, in one room school houses, and in private schools.