What's lost when we lose critical data?

Summary

Marketplace Morning Report Summary
Episode: What's Lost When We Lose Critical Data?
Release Date: May 9, 2025
Host: David Brancaccio

---

Introduction

In this episode of the Marketplace Morning Report, host David Brancaccio explores the significant impacts of governmental decisions to curtail crucial data tracking systems. The discussion spans the potential elimination of federal funding for public media, the cessation of NOAA's disaster cost tracking, the downturn in U.S. tourism due to trade tensions, and the opaque data-driven pricing strategies employed by colleges. Insights from experts, including New York Times columnist Ron Lieber, shed light on these pressing economic and societal issues.

---

Threat to Federal Funding for Public Media [00:31]

David Brancaccio begins by highlighting the precarious situation facing public media. Federal funding for public media is under threat of elimination, which would adversely affect over 800 local public radio stations broadcasting Marketplace. This funding cut poses a significant risk to the dissemination of essential economic news and stories that serve listeners daily.

Notable Quote:
"Marketplace needs your help to plan for an uncertain future and to continue bringing you the news, interviews and stories about the economy as it changes."
— David Brancaccio [00:31]

---

NOAA Halts Tracking of Disaster Costs [01:32]

The episode delves into the Trump administration's decision to retire NOAA's database that tracks the financial impact of major disasters like tornadoes, hurricanes, floods, fires, and earthquakes. This move is justified by the administration as a realignment of priorities, but it significantly undermines the ability to monitor and understand the escalating costs associated with climate-related disasters.

Key Points:

• Administrative Justification: The administration cites "evolving priorities, statutory mandates and staffing changes" as reasons for discontinuing the database.
• Impact on Public Understanding: The removal of this tool hinders the public's ability to comprehend the increasing frequency and economic burden of billion-dollar disasters.
• Climate Change Correlation: Experts argue that the data was crucial for linking the rise in disaster costs to climate change, which continues to exacerbate these events.

Notable Quotes:
"What will be lost is a tool that gives the public an idea of the costs of events like storms, floods and droughts over time."
— Henry Epp [01:32]

"Having one less tool like this weakens our understanding of that impact."
— Henry Epp [02:22]

---

Reliance on Private Sector Data [02:11]

Brancaccio points out that in the absence of NOAA's comprehensive data, there is an increased reliance on private sector sources to fill the gap. However, private data often lacks the historical depth and inflation-adjusted metrics that NOAA provided since 1980, thereby weakening the overall understanding of climate impacts on the economy.

Notable Quote:
"What did this government data do for us?"
— David Brancaccio [02:11]

---

Decline in U.S. Tourism Amid Trade Tensions [03:02]

Shifting focus to the tourism sector, Brancaccio reports a downturn in international visitors to the United States, attributed to ongoing trade wars and stringent U.S. border controls. This decline has tangible effects on companies such as Expedia, whose stock fell by over 9% following weaker than expected quarterly sales. Additionally, New York City officials have revised their visitor forecasts downward by 17%, anticipating a decrease of approximately 12 million tourists this year.

Notable Quote:
"Stock in the travel company Expedia closed down more than 9% yesterday after its quarterly sales were less than expected."
— David Brancaccio [03:47]

---

Data-Driven College Pricing Strategies [04:02]

A significant portion of the episode features an in-depth conversation with Ron Lieber, a New York Times columnist, about the transparent manipulation of college pricing through data analytics. Lieber explains how colleges collaborate with for-profit companies to harness extensive data, enabling them to tailor tuition offers based on individual student profiles.

Key Points:

• Data Collection: Colleges gather vast amounts of data from SAT/ACT scores, demographics, high school performance, and demonstrated interest to predict student enrollment and financial needs.
• Algorithmic Pricing: Advanced algorithms process this data to determine the optimal financial aid packages, often resulting in varied net prices for similar students.
• Fairness and Transparency: This system raises concerns about fairness, as students may receive vastly different financial offers without a clear understanding of the underlying criteria.

Notable Quotes:
"They're trying to suck as much information as they can... to figure out what offer to make."
— Ron Lieber [04:37]

"The first offer may not necessarily be the best offer... it's on you to go back to the school and say, ah, actually you got it wrong."
— Ron Lieber [06:04]

Advice from Lieber: Lieber urges students and parents to actively engage with colleges upon receiving financial aid offers. If the initial offer seems unfavorable compared to other institutions, he recommends reaching out to negotiate and present any new achievements or information that could merit a reconsideration of the aid package.

---

Political Scrutiny and Transparency Efforts [07:33]

Brancaccio touches upon the political ramifications of these opaque pricing strategies. Some Republicans in Congress have initiated requests to Ivy League schools for detailed data on how financial aid and tuition prices are determined. This inquiry is perceived as an attempt to uncover potential antitrust violations and to scrutinize the fairness of admission and pricing practices.

Notable Quote:
"Some Republicans in Congress have sent letters to Ivy League schools asking for the data behind how they decide what students should pay at face value."
— David Brancaccio [07:33]

---

Closing Remarks and Light-Hearted Segments [08:27]

The episode concludes with a brief advertisement for "This Old House," a trusted DIY and home improvement resource now available in radio and on-demand formats. A humorous exchange between Brancaccio and Lieber adds a lighter note, showcasing their camaraderie.

Notable Exchange:
"I think you're breaking into this wall. Regardless. I was hoping you wouldn't say that."
— David Brancaccio [08:37]

"I need to go and get some whiskey. I think I would get the whiskey for sure."
— Ron Lieber [08:40]

---

Conclusion

This episode of the Marketplace Morning Report underscores the critical loss of vital data systems and their far-reaching implications on public media funding, climate research, tourism, and higher education pricing. Through expert interviews and incisive analysis, Brancaccio illuminates the interconnectedness of data transparency and informed decision-making in navigating today's complex economic landscape.

---

Transcript

[Lisa]

Amazon presents Lisa vs the Mosquito Surviving 100 million years mosquitoes shook off the plate tectonic breakup of Pangea, the asteroid that eliminated the dinosaurs and the ice age. But Lisa shopped on Amazon and bought a can of repellent, a cute long sleeve shirt and a citronella candle. Hey mosquito. Lisa just bodied. You save the everyday with deals from Amazon.

[David Brancaccio]

Straight Talk here. Federal funding for public media is at risk of being eliminated. That seriously affects our 800 local public radio stations that broadcast Marketplace and that in turn impacts our bottom line. Marketplace needs your help to plan for an uncertain future and to continue bringing you the news, interviews and stories about the economy as it changes. Every donation right now has a profound impact. Please give you [e-mail] donate and thank you. Does it count if you don't count it? The Trump administration moves to stop tallying the costs when tornadoes, hurricanes, floods, fires and earthquakes strike. I'm David Brancaccio in Los Angeles. The federal government will no longer track the cost of the most expensive disasters in the country. The national oceanic and Atmospheric Administration will stop adding dollar damage tallies to its database of events that cause over a billion dollars in damage. MarketPL places Henry Epp is here with more.

[Henry Epp]

The administration says it's retiring the database to align with quote, evolving priorities, statutory mandates and staffing changes. What will be lost is a tool that gives the public an idea of the costs of events like storms, floods and droughts over time. And there's a clear trend here. Billion dollar disasters are happening more frequently. The NOAA counted 27 of these events last year, that second only to the year before. The administration notes that wealth gains and population growth in more vulnerable parts country are part of that equation. But the number of expensive disasters is also clearly increasing as the climate warms. But now we'll no longer have that tally to reference.

[David Brancaccio]

Now when I cover these terrible stories, I often turn to private sector data. For instance, calculations of insured versus non insured losses. What did this government data do for us?

[Henry Epp]

Several climate experts quoted in media reports about this move say that this particular database is valuable because of how comprehensive it is. It relies on data from federal and state agencies as well as private data from insurance companies. And it's been kept up for years. It has inflation adjusted metrics that go back to 1980. And as global warming continues to impact our economy, climate experts argue that having one less tool like this weakens our understanding of that impact. And this is also part of a larger trend in the Trump administration. It's weakened the government's role in climate research. And that includes the dismissal last week of scientists who are working on a climate report that's mandated by Congress.

[David Brancaccio]

All right, marketplaces, Henry, up. Thank you. Tourists from other countries are avoiding the United States amid the trade war and stricter US Border controls. Stock in the travel company Expedia closed down more than 9% yesterday after its quarterly sales were less than expected. Weaker demand, says the company. And there's separate news that New York City officials have cut their forecast for visitors there by 17%, perhaps 12 million tourists this year, down from a previous forecast of 14.6 million.

[Lisa]

McCrispy strips are now at McDonald's. I hope you're ready for the most dippable chicken in McDonald's history. Dip it in all the sauces. Dip it in that hot sauce in your bag. Dip it in your McFlurry. Your dip is your business. McCrispy strips at McDonald's.

[David Brancaccio]

The crucial emails came in typically last week. And now's the season for the college bound to pick which one and which institutions of higher learning their family can afford. In many cases, there is an invisible hand playing a key role in this turning point in life. New York Times columnist Ron Lieber has been looking into this, and he joins us now. Ron, welcome.

[Ron Lieber]

Thanks for having me.

[David Brancaccio]

It's like, I don't know, airline seats. When you go to college, the person next to you may be paying more or paying less. You found, Ron, that many campuses get outside help from for profit companies to figure out what to charge your kid.

[Ron Lieber]

That's correct, David. This has become a data game, as it is in many other industries, for profit or not. Basically, they're trying to suck as much information as they can in whether it's information you tell them or information that they buy, say after you take the SAT or the ACT and you fill out a bunch of information on those forms before you take the test.

[David Brancaccio]

I see things like, I mean, they really want to know if you're going to come. If they offer you the right package, that's probably the key thing, right?

[Ron Lieber]

That's the thing that they're ultimately trying to guess, right? They're cross tabulating your zip code, which is pretty good indication of your income with, you know, your high school and the history of people coming to a college and staying at the college for four years from that school. They're looking at your grades to see the likelihood that you'll persist or flunk out or not. And then they're checking it against, you know, have you shown up on campus, how Much interest have you demonstrated. And the machines, the algorithms that these consultants rent to the colleges sort of suck all of that in. Do a bunch of computations and then essentially tell the college what offer to make and at what price.

[David Brancaccio]

And parents and students would love to know more about whether it's fair. I mean, we would define that in different ways, but you don't want to think that the fix is in for someone else. And if you get the thin envelope in which the college says no thank you, you often will feel you were treat unfairly.

[Ron Lieber]

Yeah. So as ever, David, I just want people to know what they are up against. And I think it's only fair to pull back the curtain and explain to readers and listeners what's happening and how these consulting firms and their clients talk about teenagers when they think that people like me and you and parents are not listening. And, you know, one of the morals of the story is that the first offer may not necessarily be the best offer. Some computer somewhere is guessing and making some assumptions about you and it's on you to go back to the school and say, ah, actually you got it wrong.

[David Brancaccio]

Well, that's a profoundly important tip that you're offering there. Right? You're saying that you don't just have to take what's in that envelope.

[Ron Lieber]

Nope. So, you know, you have to be, you know, careful about it and polite. You know, if you're sitting on a handful of offers from schools that are roughly similar and you've got one that's your first choice, but the net price for that one is higher than the others, it's worthwhile to go to the school and say, hey, did we do something wrong here? Because these other schools that you compete with are offering a little bit less. And I or my kid has actually done a lot of really cool stuff, you know, since they applied several months ago. Let me tell you about it. And is there a way we could, you know, come to a different conclusion here?

[David Brancaccio]

Ron Lieber writes the youe Money column for the New York Times. He's also author of the book the Price youe Pay for College. Ron, always good to catch up.

[Ron Lieber]

It's a pleasure and a privilege. Thank you, David.

[David Brancaccio]

His New York Times piece was labeled colleges know how much you're willing to pay. Here's how. Some Republicans in Congress have sent letters to Ivy League schools asking for the data behind how they decide what students should pay at face value. There's interest in seeing if there is antitrust level collusion going on and who gets chosen for the freshman class. But this is also seen as part of the Trump administration's more general pressure on elite institutions, universities included. Our digital producer is Dylan Mietnin. Our engineers are Brian Allison and Jay Sebold. In Los Angeles, I'm David Brancaccio. It's the Marketplace morning report from apm, American Public Media.

[Ron Lieber]

This Old House has been America's most trusted source for all things DIY and home improvement for decades. And now we're on the radio and on demand.

[David Brancaccio]

I think you're breaking into this wall. Regardless. I was hoping you wouldn't say that.

[Ron Lieber]

I need to go and get some whiskey. I think I would get the whiskey for sure. Subscribe to this Old House radio hour from LAS Studios. Wherever you get your podcast.