The United States will lose its ability to compete in the global knowledge economy if its educational system is not significantly improved. It now ranks 13th in college graduation rates. In a recent 24-country Survey of Adult Skills, the U.S. ranked 16th in literary proficiency and 21st in numeracy proficiency. Without an intervention, the United States will continue to lose its ability to compete in the global knowledge economy. The objective of this paper was to examine the problem and various potential solutions. The research methodology employed was a search of the scholarly and professional literature. The authors discuss cost-effective solutions that include expanding early childhood education programs, changing the school calendar, home schooling, and online learning options.