This report: (1) investigates the declining state of the educational system in America, as measured by high school student performance in the United States and other countries; (2) identifies specific problem areas; and (3) offers multiple recommendations for improvement. The five major recommendations arrived at appear, respectively, under the headings: content, standards and expectations, time, teaching, leadership and fiscal support. Recommendations pertaining to content include the strengthening of high school graduation requirements by establishing minimum requirements for each student of: (a) 4 years of English; (b) 3 years of mathematics; (c) 3 years of science; (d) 3 years of social studies; and (e) one-half year of computer science. With regard to standards and expectations, schools, colleges, and universities are encouraged to adopt more rigorous and measurable standards and higher expectations for academic performance and student conduct. Four-year colleges and universities, in particular, are advised to raise their admission requirements. In order to improve time usage, the report advises that more time should be devoted to students learning the "New Basics," which may, in turn, require a longer school day, or a lengthened school year. Seven ways to improve teacher preparation and to make teaching a more rewarding and respected profession are listed. Six implementation guidelines are suggested for improving educational leadership and fiscal support. Appendices contain: (a) charter of the National Commission on Excellence in Education; (b) schedule of the Commission's public events; (c) list of commissioned papers; (d) list of individuals who testified at Commission hearings; (e) list of other presentations to the Commission; and (f) notable programs. (JM)