rsnapshot not doing anything when run for the first time

Question

I recently deleted my SSH private key and have decided to start backing up my home directory to avoid doing that in the future.

I've used rsnapshot quite a bit in the past, and I'm pretty sure the configuration file is correct, even still, it does nothing when I run it and I have no idea why.

Here is the config file as it stands now:

config_version  1.2
snapshot_root   /var/cache/rsnapshot/
no_create_root  0
cmd_cp      /bin/cp
cmd_rm      /bin/rm
cmd_rsync   /usr/bin/rsync
cmd_logger  /usr/bin/logger
retain  daily   7
retain  weekly  4
verbose     2
loglevel    3
logfile /var/log/rsnapshot.log
lockfile    /var/run/rsnapshot.pid
link_dest   1
sync_first  1
backup  /home/ksoviero  ksoviero-laptop/

Obviously with all comments and blank lines removed for brevity here.

When I run rsnapshot -t daily as root, I get the following:

# rsnapshot -t daily
echo 25094 > /var/run/rsnapshot.pid

That's it. When I run it for real the same happens. rsync is never called.

Anyone seen this before? Is there a bug in 1.4.2-1 perhaps?

Thanks!