If you weren't at least old enough to have an inkling as to what was going on in the US at that time, it's hard to understand the significance of that game.
We were in a deep recession. The armed forces, especially the Army, were still recovering from the Vietnam War. There was endless news coverage of the hostages in Iran. Remember the line, "Day 281 (or whatever day it was)...America held hostage," on the CBS news).
Inflation in general was nasty. Gasoline prices in particular were out of hand. The stock market was tanking. The Japanese cars were running circles around domestic vehicles in terms of quality. The phrase, "American car quality," had become an oxymoron. Remember cars that continued to spit and sputter and clatter after they'd been turned off?
The Warsaw Pact countries (remember them?) had state-sponsored doping and sex changes to have men competing in women's sports. Remember the East German women's track and field competitors? The Russians were putting professional athletes, mostly members of the Russian Army whose sole job was to train, into the Olympics. The memory of the worst call in basketball history was still fresh.
It seemed like every morning newspaper (we actually had those back then) brought word of yet another blow. It was a really depressing time.
Then these American kids, true amateurs, went out and upset the world in the Olympics. It was literally college kids against full-grown professional men in their late 20s. Kind of like a college football all-star team going up against the KC Chiefs. And they pulled it off.
Many think that the upset of the Russians clinched the gold. It didn't. Still had to beat Sweden in the next game, but the euphoria of the game against Russia made it almost an afterthought. Even so, they pulled that one out as well.
If you weren't around at the time, it's hard to put into words how much that one game meant to national morale. To this day, when I hear Al Michaels' call and think of the overall context of the time, I get something in my eye.