EconomicsUS GDP (1998 dollars): $5,916.70 billion
Federal spending: $1323.63 billion
Federal debt: $3598.5 billion
Median Household Income
(current dollars): $30,126
Consumer Price Index: 136.2
Cost of a first-class stamp: $0.25 ($0.29 as of 2/3/91)
- Fox Broadcasting is the first network to permit condom advertising on television.
- Seattle band Nirvana releases the song "Smells Like Teen Spirit" on the LP Nevermind and enjoys national success. With Nirvana's hit comes the grunge movement, which is characterized by distorted guitars, dispirited vocals and lots of flannel.
- Paul Reubens (aka Pee Wee Herman) is arrested in a Florida movie theater for indecent exposure.
- The Silence of the Lambs, Beauty and the Beast, JFK, Thelma & Louise