Live blog: The budget reaction
5:33 p.m. A little over an hour since Dion told us that there would be no election, and any excitement surrounding budget day seems to be rapidly dwindling. Some pundits are predicting that this budget will be a distant memory in a couple of days.
As for Liberal MPs, they have a meeting tonight to be "briefed" on the budget. And then there's tomorrow's regular Wednesday meeting of caucus. Of course there will also be discussion about why Dion made the decision he did - it's said that he didn't tell them what he was going to do and most had to learn from the TV.
Are there MPs who are ticked about this? Yes. Are there MPs who would like to have an election ASAP? Yes. But it's unlikely they will go public. That doesn't mean we won't keep looking for them...
4:46 p.m. Liberal MPs are starting to filter into the hallway. They seem mainly okay about propping up this budget. John Godfrey, the soon-to-be former MP for Don Valley West, exited the chamber hauling a suitcase and heading to New York. "I guess I don't have to stick around now for the destruction of the government," he said.
4:40 p.m. And with Dion's pronouncement, the crowd of reporters has dispersed, presumably to make March vacation plans. Dion, incidentally, came out into the foyer holding the hand of his wife, Janine Krieber. That's unusual - a reflection no doubt of how significant that small statement was.
4:35 p.m. Dion is here. It doesn't sound like he's crazy about this "very modest" budget. He's not taking any questions.
He's decided it's not worth provoking an election. There it is.
4:30 p.m. Garth Turner wants the Liberals to fight an election over this budget. But he's not sure what Dion thinks.
The former Conservative-turned-Liberal, MP for Halton, is one of the most hawkish in the caucus, in wanting to provoke the government's collapse. And he thinks all the ingredients are there for a good fight. But he's wandering around this lobby like the rest of us, waiting to see what Dion decides. Clearly, the leader has decided to keep this decision to himself.
4:16 p.m. Now it's Duceppe. No surprise, he doesn't like it either. Nothing in it for anyone.
Funny, he's saying as well that the Liberals have to decide if there's an election.
4:12 p.m. Reporters are having a very hard time getting Layton to say whether this budget is worth an election. Apparently that's for Harper and Dion to decide.
4:08 p.m. One of Dion's press persons has come out and says the Liberal leader will be talking about the fact that Montreal didn't do a single trade today.
Oh, here's Jack Layton. The budget, he says, surprise, surprise, is inadequate. "Clearly fails working families in Canada."
4 p.m. The Commons' lobby is one big TV studio and about 30 reporters are already gathered around the microphone where Stephane Dion is due to give his reaction to the budget. That pretty much tells you where the story is today, doesn't it?