By Josiah Ryan
Sen. John Ensign (R-Nev.) said the the spending proposal from Democrats to fund the government for the rest of the year "virtually ignores" the deficit.
Ensign said he would reluctantly support the competing proposal from House Republicans to cut $57 billion in government spending through the end of the fiscal year.
Senators took turns early Wednesday afternoon exchanging barbs on the floor over the rival budget proposals, which will see cloture votes on the floor later in the day.
Sen. Charles Schumer (D-N.Y.) spoke after Ensign, and called Republicans' proposal a "scorched earth strategy" and a "Trojan horse."
"We will not be fooled by it," Schumer said.
Sen. Jeff Sessions (R-Ala.) followed Schumer, and predicted that if spending is not cut immediately, the U.S. would face a credit crisis within one year.
"We are living in a fantasy world if we don't think we can find $61 billion to reduce from the Obama budget," Sessions said.
But Sen. Jeff Bingaman (D-N.M.) said Republicans' plan would "mindlessly cut funding."
The votes on both proposals are scheduled for around 4 p.m.