EconomicsFederal spending: $1675.88 billion
Federal debt: $5750.4 billion
Consumer Price Index: 163
Cost of a first-class stamp: $0.32
- Titanic becomes the highest-grossing film of all time, raking in more than $580 million domestically.
- An estimated 76 million viewers watch the last episode of Seinfeld.
- Legendary crooner Frank Sinatra dies of a heart attack at age 82.
- NBC agrees to fork over $13 million an episode for the next three years for broadcast rights to the top-rated series ER. The total dollar figure, $850 million, eclipses any price ever paid for a television show.
- Titanic captures a record-tying 11 Academy Awards, including those for Best Picture and Best Director (James Cameron).
- The American Film Institute announces its list of the top 100 films of all time. Citizen Kane tops the list.
- Affliction, American History X, Elizabeth, Shakespeare in Love, There's Something about Mary
- Edward Ball, Slaves in the Family
- Russell Banks, Cloudsplitter
- Michael Cunningham, The Hours
- Donald Hall, Without
- Alice McDermott, Charming Billy