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Z Watergate — Everyone's favorite scandal; Richard Nixon was not charged with a crime or kicked out of office as a result of the investigation - he resigned and made the 'V' fingers; journalists from The Washington Post uncovered the wrongdoing; if you want more details, read one of the thousands of books about it. (
In-depth information about Watergate)
WMD — A weapon of mass destruction or weapons of mass destruction; in general the term means a weapon that can kill large numbers of people or has the ultimate effect of doing so; of course, by that definition, cigarettes and double cheeseburgers are WMD; very overused in political rhetoric.
welfare — See Social Security.