In a video released by his campaign yesterday, Obama tried to sell the deal to his supporters, while also acknowledging that the outcome was "far from satisfying."
Jay Carney, the White House press secretary, told reporters yesterday that Obama's standing wasn't diminished in the debt debate.
"I think the president showed enormous leadership through this process," he said.
Obama had the most to lose politically had the nation defaulted. It would have been the first time in the nation's history and could have provided a significant political weapon for his adversaries.
By being part of a deal that will slash government spending by $2.4 trillion or more, Obama could be able to sell himself to independent voters as a deficit-cutter.
"This is one of many rounds of the battle we are going to have about the vision for the country," said John Lapp, a Democratic strategist. "I am confident that progressives will rally for President Obama."