Breaking:

Scott McClellan has resigned.

UPDATE: Holding back tears, McClellan announced the decision alongside President Bush this morning on the White House lawn. Bush: “One of these days, he and I will be rocking in chairs in Texas talking about the good old days of his time as the Press Secretary, and I can assure you, I will feel the same way then that I feel now that I can say to Scott: job well done.”

UPDATE II: “Also, longtime confidant and adviser Karl Rove is giving up oversight of policy development to focus more on politics with the approach of the fall midterm elections, a senior administration official said Wednesday.”