From Elizabeth de la Vega:
The Special Counsel is arguing... that, under the federal sentencing guidelines, the court should increase this range because Libby's perjury and obstruction of justice interfered with an investigation into possible violations of the Intelligence Identities Protection Act and the Espionage Act. If the court accepts this argument, Libby could receive a sentence ranging from 30 to 37 months.
The defense, on the other hand, is arguing that the judge should not follow the guidelines at all. Instead, they say, Libby should merely be sentenced to probation because: (1) he has an outstanding record of government service; (2) he will lose his law license; (3) he and his family have suffered, financially and otherwise, as a result of the prosecution; (4) his conduct was an aberration; and (5) he is unlikely to commit crimes in the future.
Given that, as the government points out, Libby used his position in the White House to commit the crime for which he was convicted; that he has not used his law license for many years and would likely never have to again; that the families of all defendants' suffer and that, unlike most defendants, Libby has a massive legal defense trust fund; that he committed his crime not once, but four times over a period of many months; and that [he] doesn't think he did anything wrong, I suspect the judge will not be giving Libby probation. Indeed -- for what it's worth -- I consider it far more likely that he will receive a sentence of approximately 30 months.
But the real story is not Libby's sentence. More on the import of l'affaire Scooter can be found here.