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January 25 - U.S. Vice President George H.W. Bush and CBS News anchor Dan Rather clash over Bush's role in the Iran-Contra scandal, during a contentious television interview.

January 29 - The Midwest Classic Conference, a U.S. college athletic conference, is formed.

February 3 - The Democratic-controlled United States House of Representatives rejects President Ronald Reagan's request for $36.25 million to support the Nicaraguan Contras.

February 12 - Anthony M. Kennedy is appointed to the Supreme Court of the United States.

February 13 – February 28 - The 1988 Winter Olympics are held in Calgary, Alberta, Canada.

February 17 - U.S. Lieutenant Colonel William R. Higgins, serving with a United Nations group monitoring a truce in southern Lebanon, is kidnapped (he is later killed by his captors).

# February 24 - Hustler Magazine v. Falwell: The Supreme Court of the United States sides with Hustler magazine by overturning a lower court decision to award Jerry Falwell $200,000 for defamation.

February 29 - A Nazi document implicates Kurt Waldheim in WWII deportations.

March 6 - Students at Gallaudet University go on strike for the selection of a non-deaf university president.

March 7 - Operation Flavius: The Special Air Services fatally shoot three unarmed Irish Republican Army members in Gibraltar.