In his farewell New York Times column today, David Leonhardt talks about what we do and don’t know about the American economy circa 2011.

We know a market economy with government intervention works best, he says. We know rising levels of education are vital. We know the federal government has overextended itself and will need to cut spending and raise taxes. We know health care is far more expensive here than elsewhere. We know the planet is warming. We know finance is still powerful. We know the middle class is having a tough time.

“We are too often occupied with distractions, rather than trying to answer a simple question: What works?” he writes. “What economic policies have succeeded before and are most likely to lead to the best life for the largest number of people?”

“What works?” could be the slogan for Rhode Island’s new “pragmatic progressives,” as WRNI’s Ian Donnis calls Treasurer Gina Raimondo and Providence Mayor Angel Taveras. Rhode Island may be Washington’s polar opposite right now – ideology hasn’t been playing much of a role at all in policy, with a Rockefeller Republican for a governor and Democrats driving hard bargains with organized labor. It will be interesting to see how long this moment lasts.

Today on Nesi’s Notes:

> Raimondo and other RI officials are warily watching Washington’s battle over the debt ceiling

> Jack Reed: Everything is ‘much more bitterly debated’ in DC now compared with 20 years ago

> Chafee for President in ’12? Some Washington Post readers like the idea of a third-party bid

> CVS CEO Larry Merlo testified before Congress today to ask for a lower corporate tax rate

from Tim White:

> The firefighter Target 12 videotaped weightlifting is still too disabled to work, a doctor says

(photo: Wikipedia/Dennis Mojado)