Via Reuters:

WASHINGTON - President Bush Monday spared former vice presidential aide Lewis "Scooter" Libby from going to prison for 2 1/2 years for obstructing the CIA leak investigation, a White House official said.

The official said Bush "has commuted the prison sentence ... leaving intact the probation and fines handed down by the court."

"That means he is not going to jail," the official said.

Here's the President's statement on the rationale behind the decision.

Earlier today, Libby had been denied by a federal appeals court to remain free on appeal.

The Nutroots who were out for Rovian blood in the pLamegate case (but settled for Libby's instead after it was announced that Rove wouldn't be indicted) won't be too pleased to hear about this - nor, I'm sure, will Pat Fitzgerald and that liar Joe Wilson. Expect the usual foaming at the mouth and howls of outrage any second now ...

Good.

More: Here's CNN's report on the news. They sound a little depressed. Awww.

Cross posted at the Sister Toldjah blog.