Check out Mark Leibovich's and Grant Barrett's article on buzzwords of the year, which ran in yesterday's New York Times Week in Review. A few of them were new to me: age-doping ("the falsification of records to show that an athlete meets participation requirements for a sporting event"), futarchy ("a theoretical government controlled in part by speculative markets"; more here), and longphoto ("a video of 90 seconds or less"). Some of the terms—Joe, in the tank, terrorist fist jab, staycation—have been discussed in Fritinancy over the last 12 months.
Comment on Grant's list or contribute your own suggestion for buzzword of the year on the Times's Ideas blog. My money's on FAIL, which achieved mass-noun/interjection status just in time to describe all the dismaltude of 2008. For more, see Urban Dictionary.