We homeschooled our daughter. For socialization, we were concerned that she might miss out on what public school kids get. So every couple of weeks or so we would take her into the bathroom, rough her up and take her lunch money.
Actually, she did pretty well getting socialized by the varied contacts she had through the church and community: she wasn't cooped up with 30 other kids her same age all day. She's a marvelous college senior now.
The real reason we homeschooled was this:
Christ said "Give to Caesar what is Caesar's!" My daughter isn't Caesar's.
Yes, a homeschooled kid turns out warped. So do public school kids. I would just rather have my daughter warped like my wife and me rather than the 30 other animals in the classroom.
The Good Book says a student will become like their teacher, and they get more teaching from the peer group than the staff - both my wife and I were certificated teachers in California before we escaped. We KNOW what the schools do: without taking ANYTHING away from the highly dedicated teachers and staff (hats off to them - they're bailing the Titanic as best as they can), the system is set up to churn out disrespectful, dependent, poorly prepared, filled-with-a-sense-of-entitlement robots. And anyone worried about the technical parts of teaching can ALWAYS hire a tutor or get a book or an online program: the key part of education is that of a kid's character, and I submit that homeschool wins nearly every time.
BUT... I also recognize that most times through no fault of their own, there will be mom-and-kid(s)-only families, and mom has to work. That's a heartbreaker and I don't see an easy way out. But be cautious about the 'we both have to work' argument: we are voluntarily on the low side of middle class (cheap mobile home in the middle of nowhere, raise part of our food, one $900 car and one $600 car), because we wanted my wife to be able to raise our daughter. Yes, I recognize that many folks are trapped by debt and the culture: if you are, work heroically towards getting out. If you're not trapped, try to stay free. You have more options that way.