Senate Majority Leader Harry ReidHarry ReidConservative Senate candidate calls on GOP to end filibuster Ex-Reid aide: McConnell's 'original sin' was casting ObamaCare as 'partisan, socialist takeover' GOP faces growing demographic nightmare in West MORE (D-Nev.) said Thursday he’s ready to compromise on spending after a GOP spending-cut bill won more votes in the Senate than the Democratic alternative.

“We accept the lessons of yesterday's vote,” Reid said in floor comments. “We know we’ll have to make a sacrifice to reach consensus, and we are willing to do that.”

The GOP measure, which would cut spending this year by $57 billion, lost by a vote of 44-56, while the Democratic bill to cut $6.5 billion was rejected, 42-58.

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More importantly, 10 Democrats and Independent Sen. Bernie Sanders (Vt.) broke with their leadership and rejected the party's spending measure. Only three Republicans voted against their party’s plan; all want to see even deeper cuts.

Reid also noted the looming March 18 deadline, when the stopgap that is currently funding the government will expire. If Congress does not approve a new funding measure, there would be a government shutdown.

“It's time to get down to business,” said Reid. “My Republican colleagues set the deadline, and the responsibility of meeting it is as much yours as mine.

“It’s time for all political posturing to end,” added Reid.

Minority Leader Mitch McConnellMitch McConnellMcCain returning to Senate in time for health vote Senate Dems launch talkathon ahead of ObamaCare repeal vote Overnight Healthcare: Trump pressures GOP ahead of vote | McConnell urges Senate to start debate | Cornyn floats conference on House, Senate bills | Thune sees progress on Medicaid MORE (R-Ky.) also spoke on the Senate floor Thursday morning but focused his remarks on a criticism of the administration’s energy policies.