Gov. David Paterson and legislative leaders are headed for a showdown today over whether to cut $2 billion from the current state budget to close a looming deficit.

Paterson has called a public leaders’ meeting at 12:30 p.m. today in order to try to reach compromise with legislative leaders after Senate Majority Leader Dean Skelos, R-Nassau County, vowed to bring Paterson’s budget cuts to a vote today.

Paterson late Monday lambasted Skelos’ move, saying it is a political stunt that would only lead to Paterson’s proposal to fail. Instead, Paterson said he would not allow his budget proposal to be voted on by lawmakers until a deal is reached.

“Clearly this heartfelt effort to try to address the state’s fiscal needs at this time has been turned into a political game,” Paterson said in a hastily called press conference Monday night.

“The idea is to put the bill on the floor of the Senate and let the bill lose, I guess as some embarrassment to the governor when really it’s an embarrassment to the people who live in the state of New York.”

The Democratic governor said he wants a three-way agreement with the Senate and Assembly, saying anything other than that “goes contrary to the process.”

Skelos has contended that the Senate is simply going along with Paterson’s request to pass his bills. Yet the Democratic-controlled Assembly has not agreed to any of Paterson’s spending cuts.

The battle comes as lame-duck Republicans face being in the Senate minority come January after losing two seats, giving Democrats a 32-30 seat edge.

“Mr. Skelos is upset that he lost his leadership or in any way would like to maintain his leadership in someway, how much more foresighted would it have been had Senator Skelos come in and made his proposals on how to cut $2 billion from this deficit,” Paterson said.

Assembly Speaker Sheldon Silver, D-Manhattan, said Monday that every option is on the table.

Paterson is warning that not closing the state’s $1.5 billion budget gap – which is expected to grow past $2 billion by the end of the fiscal year March 31 – soon risks the state’s credit and may hinder its ability to borrow money.

“I’m not sure how this state is going to stay solvent when people seem to find every other gimmick to avoid addressing this issue,” he said.

Paterson has proposed cutting $836 million in school aid this school year and $527 million to health-care programs. His budget office estimates that the state faces a $47 billion budget gap over the next four years.

He has called lawmakers back to Albany today to make budget cuts, but it appears so far that the Legislature will simply hold a brief session this afternoon and leave without taking action.

“We haven’t seen such fiscal peril since the Great Depression,” Paterson said this morning on WCBS radio in New York City.