WASHINGTON (CNN) -- House Minority Whip Roy Blunt, R-Missouri, slammed the Democrats' two pronged war funding strategy in a session with reporters Wednesday, calling the new Democratic plan "Act 2 of the melodrama of whether or not to be in Iraq."

Blunt said the plan was "both dumb and dangerous" adding, "it makes even less sense that the plan in Act 1." Blunt maintained that the latest proposal from Democrats gives an incentive to extremists to "create as much chaos as possible in the shortest possible time."

But House Speaker Nancy Pelosi, D-California, defended the bill in a statement released Wednesday afternoon, and criticized President Bush for threatening to veto it.

"Our bill will fully fund the troops, honor our commitment to our veterans, hold the Iraqi government accountable and end the war," she said. "The president's only response to our good faith efforts is another veto threat."

Blunt predicted "not many" Republicans would vote for the plan, which will likely be on the House floor Thursday, and added that Republicans would easily sustain a presidential veto.

Pressed on how many votes the Democrats could attract from GOP moderates, Blunt said the range was 2-10.