The Left is hailing David Kay's report as proof the WMD claims were a lie...but that isn't what it says at all. Rather than plagiarize and repeat, I urge you to check out John Podhoretz's column, and [added update] Jeff Jacoby's column. The text of Kay's testimony to Cogress can be found via the third link.
Jacoby--The media ignored the real WMD news
Text of Iraq weapons inspector David Kay's report
In a nutshell, Kay's team found that Saddam's regime had WMD technology including botulinum strains, continued to develop WMD technology and banned delivery systems (missiles), was continually trying to develop and acquire new weapons and long-range delivery systems, and actively concealed same from the U.N. inspectors and U.S. forces before, during, and after the invasion. What hasn't yet been found is ready-to-deploy battlefield munitions, but the team has inspected less than 10% of the known munitions storage areas, some of which cover as much as 50 square miles, searching for a sum total of material that could fit in a two-car garage.
Not that you'd know any of this from reading the headlines, which loudly proclaim that Iraq had no WMD's, and that Kay's team came up dry.