"I voted in favor not because I thought it was a good deal — it clearly is not — but because it is necessary to move the country forward on several key fronts," Issa said in a statement on his Web site.
Issa, a Republican who represents Carlsbad, Encinitas, Oceanside, Del Mar, Camp Pendleton, San Clemente, Dana Point, San Juan Capistrano and Ladera Ranch, voted with the largely Democratic majority on Thursday.
He said the nation has a "moral obligation to cash the checks we have already written" and even a brief default would have had "immediate and catastrophic effects on the U.S. and world financial markets."
In addition, he said, the deal brings Democrats in Congress back to the negotiating table to "finally tackle our massive and unsustainable government spending."
He said the battle over the shutdown and default also took the focus away from problems with the Affordable Care Act, or Obamacare.
"The end of the temporary budget impasse may appear like a victory for the president today, but it is by no means the end of discussion on Obamacare or runaway government spending," Issa said.