I still had a steady stream of high school graduates showing up in my college program that could not read a paragraph, could not write a sentence, who could not add, subtract, multiply or divide fractions or decimals, yet they were proud gradates of the local school district.
What's broke? No idea, but I do know that if that district had done even the most trivial of standardized testing, those students would have been flagged for remedial work long before they started college. Instead the college, with about 40 full time faculty, dedicated 3 of those faculty to 4th through 8th grade remedial math and reading.