bonds analyst jay abram sees a similar picture. >> cities and statesill typilly talk about cutting programs, talk abouteducing service on train lines. they'll talk about reducinthe number of times garbage gets picked up. but i ver hear a discussion of mae we should cut back on our debt servi. they know the conseqnce would be tooreat. >> reporter: the obama administration's stimulu program also helping the market, creating a new class of mun: "build america bonds." unlike tradition munis, the income from these bondis taxable. but abrams sayhe's noticed individu investors are now buying "build amera bonds" for their i.r.a. accounts. this shelters the income from taxes, while proving some stability in portfols burned bytock market losses. >> jeff: some muni watchs see the tax-freetatus of municipal bonds as anoth long-term positi. they say if federaincome tax rates climb, more invests will want to buy munis a way help keep some income tax- free. >> susie: tomorr, top political economt c. fred bergsten joinss for a priew of this ek's g-8 summit in italy. >> susie: the obal advertising market is

bonds analyst jay abrams sees a similar picture. >> cities and states wil typicalltalk about cutting programs, talk about reding seice on train lines. ey'll talk about reducing th nuer of times garbage gets picked up. but i nevehear a discussion of maybe should cut back on our debt service. they know the consequencwould be too gre. reporter: the obama administration's stimulus program is ao helping the marketby creating a new class of mis: "build america bonds." unlike traditial munis, the income from these bos is taxable. but abrams ss he's noticed indivial investors are now buying "build amica bonds" for their i.r.a. accounts. this shelters the income fm taxes, while proding some stability in portfios burned stock market losses. >> jeff: some muni waters see the tax-fr status of municipal bonds as anoer long-term posive. they say if fedel income tax rates climb, more inveors will want to buy munias a way to help keep some income tax free. >> susie: tomoow, top political econist c. fred bergsten joi us for a eview of thiweek's g-8 summit in italy. >> susie: thglobal advertising mark