Poynter's Mallary Jean Tenore wrote a nice piece Sunday on seven mistakes journalists make when covering the debt ceiling debate.
Your staff may not be covering the debate per se, but you're likely covering the implications the outcome will have on your state and county, so read the piece. As editors, you have to understand what the fuss is all about so you can make sure your publication's stories are accurate.
The story may lead you to suggest other story ideas, too. For instance, many of your readers may think most of the U.S.'s debt is owned by China (they are the largest foreign holder of our debt, however -- it isn't the same thing), or that the government just needs to balance their budget like we all do in our own households. Tenore's piece shows you why those are misconceptions.