- 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).
- 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).
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
Cost of a first-class stamp: $0.22 ($0.25 as of 4/3/88)
Washington d. Denver (42-10)
LA Dodgers d. Oakland A’s (4-1)
LA Lakers d. Detroit Pistons (4-3)
Edmonton d. Boston (4-0)
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
NCAA Basketball Championship
Kansas d. Oklahoma (83-79)
NCAA Football Champions
Notre Dame (12-0-0)
- 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.
- Rain Man, Mississippi Burning, A Fish Called Wanda, Bull Durham
- Peter Carey, Oscar and Lucinda
- Anne Tyler, Breathing Lessons
- 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
- Roy Orbison
- Chet Baker
- Luis Alvarez
- Edgar Jean Faure
- Nora Astorga