  We present the results obtained from an all-sky search for gravitational-wave
(GW) bursts in the 64-2000 Hz frequency range in data collected by the LIGO
detectors during the first year (November 2005 - November 2006) of their fifth
science run. The total analyzed livetime was 268.6 days. Multiple hierarchical
data analysis methods were invoked in this search. The overall sensitivity
expressed in terms of the root-sum-square (rss) strain amplitude h_{rss} for
gravitational-wave bursts with various morphologies was in the range of 6 times
10^{-22} Hz^{-1/2} to a few times 10^{-21} Hz^{-1/2}. No GW signals were
observed and a frequentist upper limit of 3.6 events per year on the rate of
strong GW bursts was placed at the 90% confidence level. As in our previous
searches, we also combined this rate limit with the detection efficiency for
selected waveform morphologies to obtain event rate versus strength exclusion
curves. In sensitivity, these exclusion curves are the most stringent to date.
