White House press secretary Jay Carney said Wednesday that President Barack Obama is pleased with the deal on the government shutdown and debt ceiling unveiled by Senate Majority Leader Harry Reid (D-Nev.) and Senate Minority Leader Mitch McConnell (R-Ky.)

"The president applauds Leader Reid and Minority Leader McConnell for working together to forge this compromise and encourages the Congress to act swiftly to end this shutdown and protect the full faith and credit of the United States of America," Carney said during a White House press briefing.

The deal, unveiled on the Senate floor earlier Wednesday, would fund the government through January 15 and raise the debt ceiling through February 7.

"The compromise we reached will provide our economy with the stability it desperately needs," Reid said of the agreement.

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  • Barack Obama

    President Barack Obama makes a statement in the Brady Press Briefing Room at the White House in Washington, Wednesday, Oct. 16, 2013. The Senate voted to avoid a financial default and reopen the government after a 16-day partial shutdown and the measure now heads to the House, which is expected to back the bill before day's end. (AP Photo/Charles Dharapak)

  • Barack Obama

    U.S. President Barack Obama leaves after speaking about the government shutdown and debt ceiling standoff in the Brady Press Briefing Room of the White House in Washington, D.C, October 16, 2013. (SAUL LOEB/AFP/Getty Images)

  • Barack Obama

    President Barack Obama makes a statement in the Brady Press Briefing Room at the White House in Washington, Wednesday, Oct. 16, 2013. The Senate voted to avoid a financial default and reopen the government after a 16-day partial shutdown and the measure now heads to the House, which is expected to back the bill before day's end. (AP Photo/Charles Dharapak)

  • Barack Obama

    U.S. President Barack Obama speaks while visiting with furloughed federal workers, while they volunteer at a Martha's Table kitchen on October 14, 2013 in Washington, D.C. (Photo by T.J. Kirkpatrick-Pool/Getty Images)

  • Barack Obama

    President Barack Obama makes a statement to reporters in the Brady Press Briefing Room at the White House in Washington, Wednesday, Oct. 16, 2013. The Senate voted to avoid a financial default and reopen the government after a 16-day partial shutdown and the measure now heads to the House, which is expected to back the bill before day's end. (AP Photo/Charles Dharapak)

  • Barack Obama

    U.S. President Barack Obama speaks while visiting with furloughed federal workers, while they volunteer at a Martha's Table kitchen on October 14, 2013 in Washington, D.C. (Photo by T.J. Kirkpatrick-Pool/Getty Images)

  • Barack Obama

    President Barack Obama walks out to make a statement to reporters in the Brady Press Briefing Room at the White House in Washington, Wednesday, Oct. 16, 2013. The Senate voted to avoid a financial default and reopen the government after a 16-day partial shutdown and the measure now heads to the House, which is expected to back the bill before day's end. (AP Photo/Charles Dharapak)

  • Barack Obama

    U.S. President Barack Obama speaks about the government shutdown and debt ceiling deadline at Martha's Table in Washington, D.C, October 14, 2013, as the crisis over a U.S. government shutdown and debt ceiling standoff continues into the third week of the shutdown. (SAUL LOEB/AFP/Getty Images)

  • Barack Obama

    U.S. President Barack Obama speaks while visiting with furloughed federal workers, while they volunteer at a Martha's Table kitchen on October 14, 2013 in Washington, D.C. (Photo by T.J. Kirkpatrick-Pool/Getty Images)

  • Barack Obama

    President Barack Obama pauses while speaking about the the budget and the partial government shutdown, Tuesday, Oct. 8, 2013, in the Brady Press Room of the White House in Washington. The president said he told House Speaker John Boehner he's willing to negotiate with Republicans on their priorities, but not under the threat of "economic chaos." (AP Photo/Pablo Martinez Monsivais)

  • Barack Obama

    President Barack Obama speaks about the the budget and the partial government shutdown, Tuesday, Oct. 8, 2013, in the Brady Press Room of the White House in Washington. The president said he told House Speaker John Boehner he's willing to negotiate with Republicans on their priorities, but not under the threat of "economic chaos." (AP Photo/Charles Dharapak)

  • Barack Obama

    President Barack Obama speaks about the the budget and the partial government shutdown, Tuesday, Oct. 8, 2013, in the Brady Press Room of the White House in Washington. The president said he told House Speaker John Boehner he's willing to negotiate with Republicans on their priorities, but not under the threat of "economic chaos." (AP Photo/Charles Dharapak)

  • Barack Obama

    President Barack Obama speaks about the the budget and the partial government shutdown, Tuesday, Oct. 8, 2013, in the Brady Press Room of the White House in Washington. The president said he told House Speaker John Boehner he's willing to negotiate with Republicans on their priorities, but not under the threat of "economic chaos." (AP Photo/Charles Dharapak)

  • Barack Obama

    U.S. President Barack Obama speaks during a press conference in the Brady Press Briefing Room at the White House in Washington, D.C., October 8, 2013, as the crisis over a U.S. government shutdown and debt ceiling standoff deepens on the 8th day of the shutdown. (SAUL LOEB/AFP/Getty Images)

  • Barack Obama

    U.S. President Barack Obama answers a question during a press conference in the Brady Press Briefing Room at the White House in Washington, D.C., on October 8, 2013, as the crisis over a U.S. government shutdown and debt ceiling standoff deepens. Obama on Tuesday told House Republicans to stop making threats and pass a budget, which would bring an end to a crippling government shutdown. (JEWEL SAMAD/AFP/Getty Images)

  • Barack Obama

    U.S. President Barack Obama pauses as he speaks during a press conference in the Brady Press Briefing Room of the White House on October 8, 2013 in Washington, D.C. Now in the eighth day of a government shutdown, Obama and his Democratic allies have reiterated to House Speaker John Boehner (R-OH) that they will negotiate but only after Republicans vote to approve a clean extension of government spending and authorize an increase in the debt limit. (Photo by Alex Wong/Getty Images)

  • Barack Obama

    U.S. President Barack Obama answers a question during a press conference in the Brady Press Briefing Room at the White House in Washington, D.C., on October 8, 2013, as the crisis over a U.S. government shutdown and debt ceiling standoff deepens. Obama on Tuesday told House Republicans to stop making threats and pass a budget, which would bring an end to a crippling government shutdown. (JEWEL SAMAD/AFP/Getty Images)

  • Barack Obama

    U.S. President Barack Obama speaks during a press conference in the Brady Press Briefing Room at the White House in Washington, D.C., October 8, 2013, as the crisis over a U.S. government shutdown and debt ceiling standoff deepens on the 8th day of the shutdown. (SAUL LOEB/AFP/Getty Images)

  • Barack Obama

    U.S. President Barack Obama speaks during a press conference in the Brady Press Briefing Room of the White House on October 8, 2013 in Washington, D.C. (Photo by Alex Wong/Getty Images)

  • Barack Obama

    U.S. President Barack Obama speaks during a press conference in the Brady Press Briefing Room at the White House in Washington, D.C., October 8, 2013, as the crisis over a U.S. government shutdown and debt ceiling standoff deepens on the 8th day of the shutdown. (SAUL LOEB/AFP/Getty Images)

  • Barack Obama

    U.S. President Barack Obama speaks during a press conference in the Brady Press Briefing Room at the White House in Washington, D.C., October 8, 2013, as the crisis over a U.S. government shutdown and debt ceiling standoff deepens on the 8th day of the shutdown. (SAUL LOEB/AFP/Getty Images)

  • Barack Obama

    U.S. President Barack Obama speaks during a press conference in the Brady Press Briefing Room of the White House on October 8, 2013 in Washington, D.C. (Photo by Chip Somodevilla/Getty Images)

  • Barack Obama

    U.S. President Barack Obama speaks during a press conference in the Brady Press Briefing Room at the White House in Washington, D.C., October 8, 2013, as the crisis over a US government shutdown and debt ceiling standoff deepens on the 8th day of the shutdown. (Photo credit should read SAUL LOEB/AFP/Getty Images)

  • Barack Obama

    U.S. President Barack Obama answers a question during a press conference in the Brady Press Briefing Room at the White House in Washington, D.C., on October 8, 2013, as the crisis over a U.S. government shutdown and debt ceiling standoff deepens. Obama on Tuesday told House Republicans to stop making threats and pass a budget, which would bring an end to a crippling government shutdown. (JEWEL SAMAD/AFP/Getty Images)

  • Barack Obama

    U.S. President Barack Obama speaks during a press conference in the Brady Press Briefing Room of the White House on October 8, 2013 in Washington, D.C. (Photo by Alex Wong/Getty Images)

  • Barack Obama

    U.S. President Barack Obama speaks during a press conference in the Brady Press Briefing Room at the White House in Washington, D.C., October 8, 2013. (SAUL LOEB/AFP/Getty Images)

  • Barack Obama

    U.S. President Barack Obama speaks during a press conference in the Brady Press Briefing Room of the White House on October 8, 2013 in Washington, D.C. (Photo by Chip Somodevilla/Getty Images)

  • Barack Obama

    U.S. President Barack Obama speaks during a press conference in the Brady Press Briefing Room of the White House on October 8, 2013 in Washington, D.C. (Photo by Alex Wong/Getty Images)

  • Barack Obama

    U.S. President Barack Obama answers a question during a press conference in the Brady Press Briefing Room at the White House in Washington, DC, on October 8, 2013, as the crisis over a U.S. government shutdown and debt ceiling standoff deepens. (JEWEL SAMAD/AFP/Getty Images)

  • Barack Obama

    U.S. President Barack Obama speaks during a press conference in the Brady Press Briefing Room of the White House on October 8, 2013 in Washington, D.C. Now in the eighth day of a government shutdown, Obama and his Democratic allies have reiterated to House Speaker John Boehner (R-OH) that they will negotiate but only after Republicans vote to approve a clean extension of government spending and authorize an increase in the debt limit. (Photo by Chip Somodevilla/Getty Images)

  • Barack Obama

    U.S. President Barack Obama speaks during a press conference in the Brady Press Briefing Room at the White House in Washington, D.C., on October 8, 2013, as the crisis over a U.S. government shutdown and debt ceiling standoff deepens. Obama on Tuesday told House Republicans to stop making threats and pass a budget, which would bring an end to a crippling government shutdown.(JEWEL SAMAD/AFP/Getty Images)

  • Barack Obama

    U.S. President Barack Obama speaks about hurricane preparedness as well as the budget showdown with Congress, at the headquarters of FEMA, the Federal Emergency Management Agency, in Washington, D.C., October 7, 2013, on the seventh day of the government shutdown. (SAUL LOEB/AFP/Getty Images)

  • Barack Obama

    U.S. President Barack Obama (L) and Vice President Joe Biden talk to the media at Taylor Gourmet on Pennsylvania Avenue after walking from the White House for a take-out lunch October 4, 2013 in Washington, D.C. (Photo by Pete Marovich-Pool/Getty Images)

  • Barack Obama

    U.S. President Barack Obama speaks on the government shutdown and the budget and debt ceiling debates in Congress during a visit to M. Luis Construction, a construction company, in Rockville, Maryland, October 3, 2013, on the third day of the government shutdown. (SAUL LOEB/AFP/Getty Images)

  • Barack Obama

    In this photo taken Friday, Oct. 4, 2013, President Barack Obama listens to a question during a wide-ranging and exclusive interview with The Associated Press in the White House library in Washington four days into a partial shutdown of the federal government. (AP Photo/Charles Dharapak)

  • Barack Obama

    In this photo taken Friday, Oct. 4, 2013, President Barack Obama speaks during an exclusive interview with The Associated Press in the White House library in Washington. (AP Photo/Charles Dharapak)

  • Barack Obama

    ROCKVILLE, MD - OCTOBER 3: President Barack Obama visits M. Luis Construction on October 3, 2013 in Rockville, Maryland. President Obama spoke about the need for Congress to pass a budget. (Photo by Dennis Brack-Pool/Getty Images)

  • Barack Obama

    ROCKVILLE, MD - OCTOBER 3: President Barack Obama visits M. Luis Construction on October 3, 2013 in Rockville, Maryland. President Obama spoke about the need for Congress to pass a budget. (Photo by Dennis Brack-Pool/Getty Images)

  • Barack Obama

    U.S. President Barack Obama speaks on the government shutdown and the budget and debt ceiling debates in Congress during a visit to M. Luis Construction, a construction company, in Rockville, Maryland, October 3, 2013, on the third day of the government shutdown. (SAUL LOEB/AFP/Getty Images)

  • Barack Obama

    U.S. President Barack Obama speaks on the government shutdown and the budget and debt ceiling debates in Congress during a visit to M. Luis Construction, a construction company, in Rockville, Maryland, October 3, 2013, on the third day of the government shutdown. (SAUL LOEB/AFP/Getty Images)

  • Barack Obama

    U.S. President Barack Obama speaks on the government shutdown and the budget and debt ceiling debates in Congress during a visit to M. Luis Construction, a construction company, in Rockville, Maryland, October 3, 2013, on the third day of the government shutdown. (SAUL LOEB/AFP/Getty Images)

  • Barack Obama

    U.S. President Barack Obama speaks on the government shutdown and the budget and debt ceiling debates in Congress during a visit to M. Luis Construction, a construction company, in Rockville, Maryland, October 3, 2013, on the third day of the government shutdown. (SAUL LOEB/AFP/Getty Images)

  • Barack Obama

    U.S. President Barack Obama leaves after speaking on federal government shutdown at the Rose Garden of the White House in Washington, D.C., on October 1, 2013. (JEWEL SAMAD/AFP/Getty Images)

  • Barack Obama

    U.S. President Barack Obama speaks about the Affordable Care Act, as well as the government shutdown in the Rose Garden of the White House in Washington, D.C., October 1, 2013. (SAUL LOEB/AFP/Getty Images)

  • Barack Obama

    U.S. President Barack Obama speaks on federal government shutdown at the Rose Garden of the White House in Washington, D.C., on October 1, 2013.(JEWEL SAMAD/AFP/Getty Images)

  • Barack Obama

    U.S. President Barack Obama speaks on federal government shutdown at the Rose Garden of the White House in Washington, D.C., on October 1, 2013. (JEWEL SAMAD/AFP/Getty Images)

  • Barack Obama

    U.S. President Barack Obama speaks at the Rose Garden of the White House on the first day of the federal government shutdown, in Washington, D.C., on October 1, 2013. (JEWEL SAMAD/AFP/Getty Images)

  • Barack Obama

    U.S. President Barack Obama delivers remarks about the launch of the Affordable Care Act's health insurance marketplaces and the first federal government shutdown in 17 years in the Rose Garden of the White House October 1, 2013 in Washington, D.C. (Photo by Chip Somodevilla/Getty Images)

  • Barack Obama

    President Barack Obama pauses as he speaks in the Brady Press Briefing Room at the White House in Washington, Wednesday, Oct. 16, 2013, after Senate lawmakers reached a bipartisan deal to avoid default and reopen the government. (AP Photo/Pablo Martinez Monsivais)

  • US-POLITICS-ECONOMY-BUDGET

    US President Barack Obama speaks about the government shutdown and debt ceiling standoff in the Brady Press Briefing Room of the White House in Washington, DC, October 16, 2013. AFP PHOTO / Saul LOEB (Photo credit should read SAUL LOEB/AFP/Getty Images)

  • US-POLITICS-ECONOMY-BUDGET

    US President Barack Obama speaks about the government shutdown and debt ceiling standoff in the Brady Press Briefing Room of the White House in Washington, DC, October 16, 2013. AFP PHOTO / Saul LOEB (Photo credit should read SAUL LOEB/AFP/Getty Images)