Yes, if I were a politician, I would put a lot of money into education. In fact, education would be my primary platform. Education is paramount to the success of any nation, as an uneducated populace quickly falls behind advances made in the rest of the world. Thus, I would put a lot of money into education.
Yes- the strengthening role of education has historically been the catalyst for a lot of good changes in society. The renaissance, enlightenment period, and the rapid improvement in science and technology in the 20th century can all be attributed to more rigorous approaches to education. Educational achievement is also very strongly statistically correlated with personal income and national GDP. A country that ignores education will quickly find itself falling behind in the 21st century.