big news. potentially good news if you believe all the forced across the board budget cuts known as the sequester are choking the economy. not so good news, though, if you're one of an army of americans looking for work who will be losing jobless benefits soon. also not good news if you wanted to see some entitlement cuts. but there has been a bipartisan budget deal hammered out by gop congressman paul ryan and democratic senator patty murray. it touches on all the above. dana bash joins us with what is in it and how it came about and i suppose the big question whether it stands a snowball's chance of actually becoming law. dana, tell us what is in this deal? >> reporter: well, it is modest but it is a start as you said. anytime we're talking about compromise in washington, is a breath of fresh air, frankly, especially somebody who covers congress and not used to using that word compromise very often. it is two years and sets the budget levels for two years. and what it does is it takes