From the Associated Press:

With a brutal economic slowdown, 2008 may feel as if it will never end. Now the world’s timekeepers are making it even longer by adding a leap second to the last day of the year.

Along with the economy, the Earth itself is slowing down, requiring timekeepers to add an extra second to their atomic clocks to keep in sync with Earth’s slightly slowing rotation. So an extra second will be tacked on to Dec. 31 after 6:59:59 p.m. and before 7 p.m. Eastern Standard Time.

That extra second will make 2008—already long with an extra day on Feb. 29—the longest year since 1992.

The decision to add an extra second was made by an international consortium of timekeepers, whose American arm announced it Monday. World commerce and digital technology depend on accurate to-the-second timekeeping, said Geoff Chester, spokesman for the U.S. Naval Observatory in Washington, responsible for one-third of the world’s atomic clocks.

The longest year since 1992.  I knew it!