“I think we spend too much on K-12 education a.k.a. teachers' salaries. It's the only industry where you never see any productivity increases.”
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Teacher unions are an interest group that acts in defense of their own interests, which means the union bosses' interests, not the members.
There's no particular relationship between spending and educational results. Most education spending is actually on salaries, and that's allocated according to political muscle.
If we help an educated man's daughter to go to Cambridge are we not forcing her to think not about education but about war? - not how she can learn, but how she can fight in order that she might win the same advantages as her brothers?
I think an education is not only important, it is the most important thing you can do with your life.