Here is the important part, especially for anyone who has lived or plans to live past 65.
The House GOP framework, pushed by Rep. Paul Ryan (R-WI), would raise the borrowing limit for six weeks while replacing across-the-board spending cuts (known as sequestration) with cuts to Social Security and Medicare benefits. It would also set up formal negotiations to resolve spending disputes and address the next debt limit increase. But the White House and Democratic leaders have rebuffed that approach. "That's over with. It's done," Reid said of White House talks with the House GOP. "They're not talking anymore."
