The American Dialect Society (via SG) each year votes on which words best “reflect the concerns and preoccupations of the year gone by.” 2002’s winner: Weapons of Mass Destruction (W.M.D.). Other categories of distinction include:
Most Likely to Succeed: Blog
Most Useful: Google
Most Creative: Iraqnophobia
Most Outrageous: Neuticles
Most Euphemistic: Regime change
For those who are interested, they also have lists for 1990 – 2001.