World Events
  • William Buckley, American hostage in Lebanon, reported slain (Jan. 20).
  • Iraqi missiles kill 37 in attack on US frigate Stark in Persian Gulf (May 17); Iraqi president Hussein apologizes (May 18).
  • Prime Minister Thatcher wins rare third term in Britain (June 11).
  • Klaus Barbie, 73, Gestapo wartime chief in Lyon, sentenced to life by French court for war crimes (July 4).
U.S. Events
  • US Supreme Court rules Rotary Clubs must admit women (May 4).
  • US Supreme Court Justice Lewis F. Powell, Jr., retires (June 26).
  • Oliver North, Jr., tells Congressional inquiry higher officials approved his secret Iran-Contra operations (July 7–10).
  • Admiral John M. Poindexter, former National Security Adviser, testifies he authorized use of Iran arms sale profits to aid Contras (July 15–22).
  • George P. Shultz testifies he was deceived repeatedly on Iran-Contra affair (July 23–24).
  • Defense Secretary Caspar W. Weinberger tells inquiry of official deception and intrigue (July 31, Aug. 3).
  • Reagan says Iran arms-Contra policy went astray and accepts responsibility (Aug. 12).
  • Senate, 58-42, rejects Robert H. Bork as US Supreme Court Justice (Oct. 23).

US GDP (1998 dollars):   $4,692.30 billion
Federal spending:   $1003.91 billion
Federal debt:   $2346.1 billion
Median Household Income
(current dollars):  
Consumer Price Index:   113.6
Unemployment:   6.2%
Cost of a first-class stamp:   $0.22


Super Bowl
NY Giants d. Denver (39-20)

World Series
Minnesota d. St. Louis Cardinals (4-3)

NBA Championship
LA Lakers d. Boston (4-2)

Stanley Cup
Edmonton d. Philadelphia (4-3)

Women: Martina Navratilova d. S. Graf (7-5 6-3)
Men: Pat Cash d. I. Lendl (7-6 6-2 7-5)

Kentucky Derby Champion



  • Though African, Latin American and other genres of international music have been around for centuries, a group of small, London-based labels coin the term “world music,” which helps record sellers find rack space for the eclectic music.
  • thirtysomething debuts on ABC and departs from typical dramas, featuring analytical, self-absorbed baby-boomer characters.


  • Moonstruck, Wall Street, The Last Emperor, Fatal Attraction


  • Penelope Lively, Moon Tiger
  • Toni Morrison, Beloved
  • Prozac released for use in US by Eli Lilly & Company. Background: Health & Nutrition
  • AZT wins FDA approval for use in the treatment of AIDS.
  • An international treaty signed in Montreal calls for a 50% reduction in the use of CFCs by the year 2000 (Sept. 16). Background: environmentalism
  • Richard Branson and Per Lindstrand make the first transatlantic hot-air balloon flight. 2,790 miles from Sugarloaf Mountain, Maine, to Ireland Virgin Atlantic Flyer (July 2–4). Background: Famous Firsts in Aviation
  • William Casey (CIA)
  • Andy Warhol
  • Rudolf Hess
  • John Huston
  • James Baldwin


The movie “The Untouchables” came out
(Kevin Costner & Sean Connery)