It has been said that Clinton was a clever politician and Bush was not so clever. I don't know what their IQ are, but what I want to say, is that sometimes it may not matter.
Physics PhDs are known to be smart so are Mathematics PhD's. That doesn't mean that they would be successful in doing every thing. There are certain tasks that need a special kind of intelligence.
I have seen very smart people, who are not as successful as we think they should be. Not every Harvard graduate ends up being an accomplished person.
I think, for the most part, I.Q. has been oversold. People who do good at school, sometimes do terribly awful in their professional life and vice versa.
The society at large, in my opinion would do well to avoid glorifying students with straight As, and move toward a situation, where most people can get a couple of shots at success in their first 30 years of life, and then toward open avenues.
Let people have access to resources, books, classes, internet, if it is at all possible, let people have a modicum of life sustaining resources, (food, shelter, clothing) and let them be free of the acute need to support themselves, consider it an investment of sort in human capital.
Life is complicated, it is not wise to think that every problem can be solved by throwing a bunch of smart people at it, or money or any one thing. Don't just stick to a hammer, not every thing is a nail.
An advanced society needs to have a large and diversified toolbox and a lively environment for debate. A Dynamic market of ideas, a society needs to take risk with its own people, let them have a sandbox and make a mess. The benefit of such an approach, in my opinion is much much more than its supposed risks and costs.
People have to show themselves in action and for some, it takes a bit of a time to show their talent. But I think it's absolutely necessary for the society to have the forethought and long vision of allowing people to experiment with many things and find the spot at which they will be creative.
I believe a large portion of people can be very productive, every thing requires a special kind of intelligence and if we let people find what they are good at, we will be employing the right kind of intelligence for the right kind of problem.
Under such circumstances, the overall productivity of the nation will be maximized and the well being of its people will be promoted at the minimum cost.