Phase I/II Study of Weekly Abraxane and RAD001 in Women With Locally Adv. or Metastatic Breast Ca

DISEASE CHARACTERISTICS: * Histologically confirmed breast cancer * Locally recurrent or metastatic disease * Not amenable to surgery or radiotherapy * HER2/neu-negative disease * Has ≥ 1 measurable lesion, as defined by RECIST criteria * No non-measurable lesions (e.g., pleural effusion or ascites) other than bone metastases * Bone metastases as the sole site of disease allowed provided there are ≥ 2 lytic bone lesions by x-ray, CT scan, or MRI * Lesions irradiated in the advanced setting are not considered sites of measurable disease unless clear tumor progression has been documented in these lesions since the completion of radiotherapy * No bilateral diffuse lymphangitis carcinomatosa of the lung (\> 50% of lung involvement) or evidence of liver metastases estimated as involving \> one third of the liver by sonogram and/or CT scan * No unstable CNS metastases * Hormone receptor status not specified PATIENT CHARACTERISTICS: * Menopausal status not specified * ECOG performance status 0-2 * Life expectancy ≥ 3 months * ANC ≥ 1,500/mm\^3 * Platelet count ≥ 100,000/mm\^3 * Hemoglobin \> 9 g/dL * Serum bilirubin ≤ 1.5 times upper limit of normal (ULN) * ALT and AST ≤ 2.5 times ULN (≤ 5 times ULN in patients with liver metastases) * INR \< 1.5 times ULN * Serum creatinine ≤ 1.5 mg/dL * Fasting serum cholesterol ≤ 300 mg/dL (or 7.75 mmol/L) (levels outside this threshold allowed provided statin therapy is initiated) * Fasting triglycerides ≤ 2.5 times ULN (levels outside this threshold allowed provided statin therapy is initiated) * Not pregnant or nursing * Negative pregnancy test * Fertile patients must use effective contraception * Oral, implantable, or injectable contraceptives are not considered effective contraception * No ascites or encephalopathy due to liver disease * No neuropathy ≥ grade 2 * No impairment of gastrointestinal (GI) function or GI disease that may significantly alter the absorption of everolimus, including any of the following: * Ulcerative disease * Uncontrolled nausea, vomiting, or diarrhea * Malabsorption syndrome * No active, bleeding diathesis * No known HIV seropositivity * No known hypersensitivity to everolimus or sirolimus (rapamycin), paclitaxel albumin-stabilized nanoparticle formulation, or lactose * No history of noncompliance to medical regimens * No severe and/or uncontrolled medical condition or other condition that could affect study participation, including any of the following: * Unstable angina pectoris, symptomatic congestive heart failure, myocardial infarction within the past 6 months, or serious uncontrolled cardiac arrhythmia * Severely impaired lung function * Active (acute or chronic) or uncontrolled infections or disorders * Nonmalignant medical illnesses that are uncontrolled or whose control may be jeopardized by study treatment * Liver disease (e.g., cirrhosis, chronic active hepatitis, or chronic persistent hepatitis) * No other malignancies within the past 5 years, except curatively treated carcinoma in situ of the cervix or nonmelanoma skin cancer PRIOR CONCURRENT THERAPY: * Prior systemic endocrine therapy for advanced breast cancer allowed * No prior chemotherapy for advanced breast cancer * Prior adjuvant chemotherapy allowed * No prior small bowel resection * More than 5 days since prior strong CYP3A inhibitors or inducers (e.g., rifabutin, rifampin, clarithromycin, ketoconazole, itraconazole, voriconazole, ritonavir, or telithromycin) * More than 30 days since prior radiotherapy and recovered (alopecia allowed) * Prior localized radiotherapy for analgesic purposes allowed provided radiotherapy has been completed and the patient's condition is stabilized * No prior radiotherapy to ≥ 25% of the bone marrow * More than 30 days since prior investigational drugs * More than 1 week since prior and no concurrent immunization with attenuated live vaccines * No concurrent oral anti-vitamin K medication, except low-dose coumadin * No concurrent systemic steroids or other immunosuppressive agents as chronic therapy * Topical applications, inhaled sprays, eye drops, or local injections allowed * A short duration (\< 2 weeks) of systemic corticosteroids allowed * No concurrent hormone replacement therapy, topical estrogens (including any intra-vaginal preparations), megestrol acetate, or selective estrogen-receptor modulators (e.g., raloxifene) * No other concurrent investigational or anticancer agents * Concurrent antiangiogenic agents allowed * Concurrent bisphosphonates allowed