Education is a lower priority today. I've thought about this too. Both parties want to be the education party, but really they care most about their image, not the actual priority. I remember Regan cutting education budgets, while claiming he could provide better education for less money. Of course, that was a wonderful thing, but of course, it was nonsense. It was brilliant politics that appeals to public fantasy, but it was mostly nonsense. Everyone wants everything for less, for nothing if possible. Education is very expensive. I cannot imagine how to make it less expensive without making it less.
Also, as much as I think it's a good thing, I'm not sure how necessary it is today. You can educate brilliant minds, but if you have nothing for them to do when they are ready to work, what have you accomplished? And what good are smarter adults to either political party where the funding starts? And then there is public perception that is not all in agreement about public school priorities. Should it be football for their boys or more challenging classes? Should it be easier grades or more challenge? Not everyone has the same priorities, so there is no public movement toward a specific goal.
Back to Regan, I remember his education czar, I think it was William Bennett, making the case that teachers could be paid half salaries, because so many teachers were married to other teachers, giving them a double salary that they didn't need.
The bottom line is that I'm not sure Americans overall value education that much.