They just move on, and act like the thing that they were haranguing the country about 24 hours a day last year is old news that you should get over in order to pay attention to the new thing that they demand you trust them about but offer no evidence or argument for, other than "anonymous administration officials", quotes from politicians and ex-generals, statements from lobbyists, and insane-sounding spokespeople for nonprofits indirectly funded by the government or entities that have a direct interest in the outcome.
edit: The NYT has always been somewhat of an exception to this, because they actually did think of themselves as "the" newspaper of record, and know that they will be graded retroactively on actual lies. But the only person punished for Iraq was Judith Miller. The lesson was that there are no consequences for lying continuously, the consequences come from admitting it.