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World Events
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  • US and Canada reach free trade agreement (Jan. 2). Background: NAFTA

  • Terrorists kill nine tourists on Aegean cruise (July 11).

  • Benazir Bhutto, first Islamic woman prime minister, chosen to lead Pakistan (Dec. 1).

  • Pan-Am 747 explodes from terrorist bomb and crashes in Lockerbie, Scotland, killing all 259 aboard and 11 on ground (Dec. 21).


U.S. Events
  • Iran-Contra case (March 11).

  • US Navy ship shoots down Iranian airliner in Persian Gulf, mistaking it for jet fighter; 290 killed (July 3).

  • Democratic convention nominates Gov. Michael Dukakis of Massachusetts for President and Texas Senator Lloyd Bentsen for Vice President (July 17 et seq.).

  • Republican convention nominates George Bush for President and Indiana Senator Dan Quayle for Vice President (Aug. 15 et seq.).

  • Republicans sweep 40 states in election, and Bush beats Dukakis (Nov. 8).


Economics
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US GDP (1998 dollars):   $5,049.60 billion
Federal spending:   $1064.14 billion
Federal debt:   $2601.3 billion
Median Household Income
(current dollars):  
$27,225
Consumer Price Index:   118.3
Unemployment:   5.5%
Cost of a first-class stamp:   $0.22 ($0.25 as of 4/3/88)

Sports
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Super Bowl
Washington d. Denver (42-10)

World Series
LA Dodgers d. Oakland A's (4-1)

NBA Championship
LA Lakers d. Detroit Pistons (4-3)

Stanley Cup
Edmonton d. Boston (4-0)

Wimbledon
Women: Steffi Graf d. M. Navratilova (5-7 6-2 6-1)
Men: Stefan Edberg d. B. Becker (4-6 7-6 6-4 6-2)

Kentucky Derby Champion
Winning Colors

NCAA Basketball Championship
Kansas d. Oklahoma (83-79)

NCAA Football Champions
Notre Dame (12-0-0)

Entertainment
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Events

  • Ninety-eight percent of U.S. households have at least one television set.

  • CDs outsell vinyl records for the first time.

  • Ted Turner starts Turner Network Television (TNT) and buys MGM's film library.

Movies

  • Rain Man, Mississippi Burning, A Fish Called Wanda, Bull Durham

Books

  • Peter Carey, Oscar and Lucinda

  • Anne Tyler, Breathing Lessons
Science
  • France and China permit use of "morning-after" birth-control drug RU486 (Mifepristone). Background: Birth & Contraception

  • NASA scientist James Hansen warns congress of the dangers of the global warming and the greenhouse effect. Background: Environment & Nature

Deaths
  • Roy Orbison

  • Chet Baker

  • Luis Alvarez

  • Edgar Jean Faure

  • Nora Astorga

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