U.S. Sens. Johnny Isakson (R-east Cobb) and Saxby Chambliss (R-Moultrie) say unfair deals and rushed actions have led to a bill that, if passed, will significantly slash Medicare benefits, cost way more than Democrats tout and will adversely impact health care.

By all appearances, health care reform will pass the Senate. After clearing a major hurdle with no Republican support at 1 a.m. Monday, the bill faces two more procedural votes this week before heading for a final vote set for Christmas Eve.

President Barack Obama and Senate Democrats praised the passage of Monday's middle-of-the-night, 60-40 vote, which knocked away Republican attempts at procedural delays. To do so required all 58 Democrats and the Senate's two independents.

Obama called the vote "a big victory for the American people," and challenged critics who say it will increase, not reduce costs.

"For all those who are continually carping about how this is somehow a big spending government bill, this cuts our deficit by $132 billion the first 10 years, and by over a trillion in the second," Obama said. "That argument that opponents are making against this bill does not hold water."

However, Chambliss said a new entitlement program, the Community Living and Assistance Services and Supports Act, or CLASS Act, as proposed in the health care bill, will end up increasing the deficit.

"The Congressional Budget Office recognizes that when these benefits start paying out, this is going to blow the budget," he said. "How anyone can say with a straight face that we are going to reduce the deficit by passing this legislation is beyond me."

Chambliss said this, along with other provisions in the bill, will end up making the measure cost taxpayers $2.5 trillion.

Isakson said that would be a "recipe for disaster."

"The financial aspects of the bill are the most frightening to me," Isakson said. "Ultimately, if the bill does end up costing $2.5 trillion more than it raises, it will raise the federal deficit by 20 percent. And that will cause significant financial difficulties. What happens when the deficit raises to a weight that is unsustainable is it reduces the worth of the American dollar, and that causes a recipe for disaster."

Isakson also noted how the tax increases to help fund the bill start on Jan. 1, while the benefits included in the legislation don't begin until 2014. However, with the benefits not taking place until 2014, Congress will have four sessions to make improvements to the bill, Isakson said.

As for the bill's other funding mechanism, reduction in Medicare, Chambliss said that would directly affect Georgian's who chose the Medicare Advantage option.

"That will go away," he said. "You will have to move into another Medicare option available. And it's going to be harder to find a physician who will take Medicare."

The two senators said it has been challenging keeping up with the amendments in the bill. Chambliss said that's because "everything's being done behind closed doors, with no Republican involvement, and not many Democrats either."

Isakson said the bill is being rushed. He said Senators voted Monday night just 24 hours after receiving a 470-page amendment.

"I'm learning as I speak," Isakson said when asked if he thinks senators even know what they are voting for. "There will be things that come about after the fact."

Monday's vote represented a major victory for Democrats and Obama. But it didn't come without what Majority Leader Harry Reid (D-Nev.) said were compromises. Those include numerous benefits for certain states. For example, Democratic Sen. Ben Nelson, who provided the critical 60th vote, received a concession for his state of Nebraska, where the federal government will pick up the full cost of a proposed expansion of Medicaid, at an estimated cost of $100 million over 10 years.

Isakson, Chambliss and fellow Republicans blasted tactics used to urge certain senators to support the bill.

"I've been in the public light for 31 years," Isakson said. "I understand the process. Some people fight to get things they want. But when you start discriminating against the other 49 states, that's totally wrong... Some of the deals made for the votes means people were focused on their state and not the macro issue of health care."

If the bill passes the Senate, it will then have to be merged with the earlier-approved House version.

At their core the bills passed by the House and pending in the Senate are similar. Each costs around $1 trillion over 10 years and is paid for by a combination of tax and fee increases and cuts in projected Medicare spending. Each makes health insurance mandatory for nearly everyone and sets up new insurance marketplaces called exchanges where uninsured or self-employed people and small businesses can compare prices and plans designed to meet some basic requirements. Unpopular insurance practices such as denying people coverage based on pre-existing conditions would be banned, and young adults could retain coverage longer under their parents' insurance plans - through age 25 in the Senate bill and through age 26 in the House version.

The American Medical Association is supporting the latest version of the Senate health care legislation.

The Associated Press contributed to this report