any 10:00, the rightings and observations of 19th century aristocrat alexis tocqueville from michael barron. american history tv all day this wednesday, july 4th on c-span3. >> the life of the sailor included scrubbing the deck in the morning and working on the sails, climbing aloft, whatever with the duties assigned, gun drill practice and by the end of the day you're ready for rest and you don't get sleep and it's four hours on, four hours off. >> this weekend on american history tv, the life of an enlisted man aboard "the uss constitution"bu during the war 1812. >> it was always carried by a petty officer in a bag and the thing the sailor never wanted to see was a pty officer who was getting red for a flogging. it's a phrase you still use today, don't let the cat out of bag for a flogging. >> more from the contenders. the series on key political figures who ran for president and lost, but changed political history. sunday, 1928 democratic presidential candidate al smith. up next, a house and hearing about how they affect the new technology. we'll hear from broadcasting, satellite, cable

there was a great piece that came out written in barrons overnight. written by michael amiro.xth-month data on munis. interestingly, every state in the country has actually passed the 2013 budget. along with that, 29 states in fiscal 2012 will have revenues exceeding forecast, only seven below and four coming in below forecast. only the few bankruptcisies we've seen as you mentioned in california, melissa, you've essentially had .4% of the entire outstanding municipal bond market default. we know there was this high -- very high profile call. i guess at this point it's a year and a half back by meredith whitney. i've stayed on top of that for some time. we know what's happened with munis. i actually had felt coming into this year that the idea of having capital appreciation in a municipal bond portfolio given where interest rates were should not have been something in consideration if you had a muni portfolio. you should have expected the triple tax free income but no more capital gains. i have to tell you i've been rethinking this thesis. if i'm right about the 10-year in the