School in the US system was made to babysit kids during the industrial revolution. It was also used to churn out factory workers that did what they were told.

College these days are pushed on to kids with disregard to the debt that will eventually burden them for most of their lives. While it is pushed as a panacea, it isn't the real problem with economy these days. College is being used as a substitute for real world training. Companies are too cheap to train new employees, preferring to poach from other companies or from top schools. They're afraid to spend on training because it is expensive and people are changing jobs at a faster pace. This is especially true in larger cities, where it is acceptable for skilled worker to change companies every 2-3 years. Note that, on average, a new employee is not productive for an employer until after their first year.