I'm a fan of intelligent/educated breeding, but not government-regulated breeding. My answer to this is more government funding to public education and public health awareness. No legal restrictions on reproduction beyond discouraging inbreeding. It's be nigh impossible to enforce, anyway. The question becomes how to adequately and fairly care for children in poor conditions - overburdened families or with disabilities, etc. - who did not choose to be born.
To be honest, the gene pool generally takes care of itself. If someone is that disabled, they cannot or will not reproduce. Natural selection has done a fine job over the years. If we don't kill ourselves off with pollution, natural selection will probably continue to do a fine job keeping our species intact. I think we should worry more about the aberrations we are creating and less about how to improve on something nature already has a pretty decent hold on.