Can someone sum up for me what has happened regarding NASA in the last year?

Could I have a basic summary of what has happened to NASA since February 2010 - when President Obama announced the 2011 federal budget and basically cancelled the Constellation program and changed NASA's pace, reverting to the private sector for construction of spacecraft, and using Orion as an emergency rescue vehicle instead of its previous purpose as crew exploration vehicle in the Constellation program... if you could sum up what has happened regarding NASA and the private sector and budget cuts, etc. etc. in the last year, that would be great. I haven't been keeping up.