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June 1, 1980 - It's The Economy. It's The Hostages. It's The Horse Race.

June 1, 1980 - The economy takes a nosedive. George Bush drops out of Presidential Race. Assassination attempt on Urban League President Vernon Jordan. Hostage situation continues in Iran. Survivor from Mt. St. Helens eruption surfaces.

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<strong>Party's over.</strong>

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Starting off the Month of June with a bang in 1980.

First, it was the economy - with reports that the Recession had come back with a vengence on top of double-digit inflation. Still, no tax cuts in the foreseeable future.

The GOP Presidential race was now down to one with George Bush dropping out and leaving the field open for Ronald Reagan. This ahead of Super Tuesday.

Fears of racial unrest surfaced when news of the assassination attempt on Urban League President Vernon Jordan, shot in the back by a sniper's bullet came to light. The fears were allayed when it was learned Jordan survived the attack and was doing well, but a stepped up investigation and search for the sniper was underway.

Some in South Korea were blaming the U.S. for being behind the recent violent crackdown on dissidents there. The U.S. vehemently denied any role or influence on the moves, even though the U.S. Ambassador and Military Adviser were not held in high esteem with the people of South Korea.

The hostage situation continued in Iran with a shift in political power signified by the opening of Parliament and a majority of members aligned with the Khomeni regime. The fate of the hostages was now in Parliament's hands.

And despite faded hopes for finding some 50 missing people in the wake of the eruption of the Mt. St. Helens volcano, 75 year old Ray Jennings and his four dogs surfaced relatively unscathed.

And that's how this month got started, June 1st 1980 as reported on The World This Week from CBS Radio News.

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