I'm going to buck the trend here and say yes, I believe that foreign language studies should be required in public schools. When I was in school, two semesters of a foreign language was required for graduation, which offered just a basic introduction and rudimentary skills. I believe more should have been required, enough to provide working proficiency.
The reason is obvious. Learning another language offers a doorway into cultures beyond our own, which is always desirable. Also, looking at how the USA has grown over the decades into cadres of non-English speaking communities to the point that speaking a second language is almost required for many public and private jobs nowadays, anyone who is proficient in more than one language has a distinct advantage in any job market.
I wish I had learned Spanish to the proficiency level back in the day. Decades of not using it has reduced me to being able to ask where the hotel is, ask someone's name, ask if someone requires food or water, or ask other very rudimentary questions... with no guarantee I will understand the reply. I could spend some big bucks to remedy that, of course, but it seems a bit of a waste for someone who is basically housebound and well out of the job market, lol!
Learning a second language, in my opinion, should be everyone's ultimate goal.