Educating Children About Finances

Here is an article about what some states are trying to do to prepare young people for financial responsibility (Teaching Life Lessons in Dollars and Cents). Is this the right way to prevent the government from having to bailout people in the future? I'm not 100% sure responsibility is something that can be taught in a school in a semester. I believe that responsibility is achieved through someone removing the safety nets and letting people learn the consequences of not being responsible. Personally the fear of what happens when you are not responsible keeps me in line.