http://www.bloomberg.com/apps/news?pid=20601087&sid=a2WQ_iYK.XEI&refer=home July 2 (Bloomberg) -- President George W. Bush commuted Lewis ``Scooter'' Libby's prison term in the CIA leak case, saying the 2 1/2 year prison term was ``excessive.'' Libby, 56, was convicted of lying to investigators probing the 2003 leak of CIA official Valerie Plame's identity. Backers of Libby, former chief of staff to Vice President Dick Cheney, had argued for a pardon. Bush acted after a U.S. appellate court today refused to let Libby stay out of prison during his appeal. ``My decision to commute his prison sentence leaves in place a harsh punishment for Mr. Libby,'' Bush said in a statement. ``The consequences of his felony conviction on his former life as a lawyer, public servant, and private citizen will be long- lasting.''