Widget problem

We are using a widget-driven sidebar on a site which holds most of the text in the MySQL database.

The following line of text is not parsing correctly, which breaks the sidebar in IE, and gives an incorrect href in other browsers:

<p class="i_rss"><strong ><a href="<?php bloginfo('rss2_url'); ?>">Subscribe via Rss</a></strong></p>

—————————————————
When looking at the source code, the PHP statement comes right through, rather than being processed on the server:

<p class="i_rss"><strong ><a href='<?php bloginfo('rss2_url'); ?>'>Subscribe via Rss</a></strong></p>

I have tried all kinds of jimmying with the code, replacing the double with single quotes, changing their position, etc. Nothing seems to work.