EconomicsUS GDP (1998 dollars): $6,947.00 billion
Federal spending: $1460.84 billion
Federal debt: $4643.7 billion
Median Household Income
(current dollars): $32,264
Consumer Price Index: 148.2
Cost of a first-class stamp: $0.29
- Olympic figure skater Nancy Kerrigan attacked (Jan. 6); three arrested in attack (Jan. 13).
- Aldrich Ames, high C.I.A. official, charged with spying for Soviets (Feb. 22).
- Four convicted in World Trade Center bombing (March 4).
- Clinton accused of sexual harassment while Governor of Arkansas (May 6).
- O. J. Simpson arrested in killings of wife, Nicole Brown Simpson, and friend, Ronald Goldman (June 18).
- Kurt Cobain kills himself. He was 27.
- Ninety-five million viewers watch O. J. Simpson and Al Cowlings drive along Los Angeles freeways in history's most exciting low-speed chase.
- Steven Spielberg wins his first directing Oscar for Schindler's List.
- Woodstock '94 commemorates the original weekend-long concert. Green Day and Nine Inch Nails join Bob Dylan and the Allman Brothers.
- For the first time in history, chain bookstores outsell independent stores, signaling what many fear to be the death of smaller booksellers at the hands of superstores.
- Tom Hanks wins his second consecutive Best Actor Oscar. He won in 1993 for his role in Philadelphia and in 1994 for Forrest Gump.
- ER and Friends debut on NBC, establishing NBC's dominance of the Thursday-night lineup.
- Forrest Gump, Pulp Fiction, The Shawshank Redemption, Quiz Show, Nobody's Fool