EconomicsUS GDP (1998 dollars): $6,558.10 billion
Federal spending: $1408.68 billion
Federal debt: $4351.4 billion
Median Household Income
(current dollars): $31,241
Consumer Price Index: 144.5
Cost of a first-class stamp: $0.29
- Federal agents besiege Texas Branch Davidian religious cult after six are killed in raid (March 1 et seq.). Fire kills 72 as cult standoff in Texas ends with federal assault (April 19).
- Five arrested, sixth sought in bombing of World Trade Center in New York (March 29).
- Two police officers convicted in Los Angeles on civil rights charges in Rodney King beating (April 17); sentenced Aug. 4.
- A 13-year-old Los Angeles boy accuses Michael Jackson of fondling him. Jackson vehemently denies the charge. The two parties reach an out-of-court settlement.
- River Phoenix dies of a drug overdose on Halloween. He was 23.
- Schindler's List, The Piano, Philadelphia, Six Degrees of Separation, In the Name of the Father