BOISE-- Idaho's Senator Mike Crapo is involved in intense negotiations to find a solution to the country's debt ceiling.
He is part of the "Gang of Six", a group of Republicans and Democrats that for months have been looking for bipartisan solutions.
Senator Crapo acknowledges they are at a standstill.
The U.S. will default on its debt on August 2nd if the debt ceiling isn't raised.
So the pressure is on, more than ever, to find a solution.
The sticking point in the debate over how to slash the nation's debt is higher taxes: the White House prefers a long term deal with tax hikes for the wealthiest Americans. Republicans are against increased taxes.
The plan congress is debating includes spending cuts, possibly to Medicare and Medicaid.
Changing the formula for social security benefits is also on the table.
Idaho AARP leaders were so concerned what that would do to older Americans on those benefits, they flew to Washington, D.C. to meet with Idaho's delegates.
"They've paid into Social Security all their lives. They've paid into Medicare for significant portions of their lives. These are benefits that they were promised," said AARP State Director Jim Wordelman. "Senator Risch was very clear with us, and he said he thinks that Social Security and Medicare need to be taken out of the mix in considering the debt ceiling. They do need some fixing."
Senator Mike Crapo sees it differently.
"Everything needs to be on the table. If it's not, ultimately we will see huge cuts in Medicare and Social Security under the current system," said Crapo.
Senator Crapo says the goal of the Gang of Six is to reduce $4 trillion from the debt over the next 10 years.
"Though it would not solve the problem it would go a long way toward giving us the breathing space to address it," said Crapo.
Any solution they craft can have an influence on the ultimate outcome.
But if no one comes up with any plan, Crapo fears the consequence will be economic conditions worse than any recession we've seen before.
"The world bond markets lose confidence in the ability of the United States to service that debt which will result in significantly increased rates across the board, significantly increased unemployment and inflation," Crapo said.
He planned to host a phone-in town hall meeting Wednesday night but it was canceled because the Senator was consumed with ongoing talks about the debt ceiling.
