1980s: In 1983, smoker Rose Cipollone, dying of lung cancer, sues the Liggett Group for not warning her that their products were dangerous. She wins a $400,000 judgment against the company, but it is overturned on appeal.

Today: In 2000, a jury orders the tobacco industry to pay $145 billion in punitive damages to sick Florida smokers, a record-setting verdict.

1980s: In 1986, the life expectancy for white males in the United States is 71.9 years.

Today: In 1997, the life expectancy for white males in the United States is 74.3 years.

1980s: In 1981, to address a deepening economic recession, the House passes the Economic Recovery Act, reducing taxes by 23 percent and pegging tax rates to inflation.

Today: In 2001, to address a deepening economic recession, the House passes an elevenyear $1.35 trillion tax cut, reducing tax rates and the marriage penalty.

1980s: The largest stock-market drop in Wall Street history occurs on "Black...