News & Economy
President: Harry S. Truman
Vice President: Alben W. Barkley
Population: 152,271,417
Life expectancy: 68.2 years
Cost of a new home: $14,500.00
Cost of a new car: $1,750.00
Median Household Income: $3,216.00
Cost of a first-class stamp: $0.03
Cost of a gallon of gas: $0.20
 Cost of a dozen eggs: $0.65
Cost of a gallon of milk: $0.82
News Headlines
North Korea invades South Korea; U.N. forces arrive to counter the invasion, but are forced to withdraw. President Truman declares state of emergency after Communist China becomes involved in the conflict.
Communist Chinese forces occupy Tibet
Senator Joseph McCarthy warns of communist infiltration of State Department
Failed assassination attempt on President Truman by Puerto Rican nationalists
Congress passes laws that restrict communists and communist parties in the U.S.
Accused communist spy Alger Hiss convicted of perjury
National Council of Churches formed
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Music
Billboard Top 20
1. Goodnight Irene, Gordon Jenkins & The Weavers
 2. Mona Lisa, Nat King Cole
3. Third Man Theme, Anton Karas
4. Sam's Song, Gary & Bing Crosby
5. Chattanoogie Shoe Shine Boy, Red Foley
6. Music, Music, Music, Teresa Brewer
7. It Isn't Fair, Sammy Kaye & Don Cornell
8. Simple Melody, Gary & Bing Crosby
9. Harbor Lights, Sammy Kaye
10. Third Man Theme, Guy Lombardo 11. If I Knew You Were Coming I'd've Baked A Cake, Eileen Barton
12. Bonaparte's Retreat, Kay Starr
13. Tzena, Tzena, Tzena, Gordon Jenkins & The Weavers
14. There's No Tomorrow, Tony Martin
15. The Thing, Phil Harris
16. I'll Never Be Free, Tennessee Ernie Ford & Kay Starr
17. I Wanna Be Loved, Andrews Sisters & Gordon Jenkins
18. Tennessee Waltz, Patti Page
19. I Can Dream, Can't I, Andrews Sisters & Gordon Jenkins
20. Sentimental Me, Ames Brothers
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Movies
Top 5 Movie Money Makers
 1. Cinderella (Disney)
2. Annie Get Your Gun
3. Destination Moon
4. Fancy Pants
5. All About Eve
Academy Awards
Best Actor: Jose Ferrer, Cyrano De Bergerac
Best Actress: Judy Holliday, Born Yesterday
Best Director: Joseph L. Mankiewicz, All About Eve
Best Picture: All About Eve
Best Supporting Actor: George Sanders, All About Eve
Best Supporting Actress: Josephine Hull, Harvey
Television
Americas Top 10 TV Favorites
1. Texaco Star theatre (NBC)
2. Fireside Theatre (NBC)
3. Philco TV Playhouse (NBC)
4. Your Show of Shows (NBC)
5. The Colgate Comedy Hour (NBC)
6. Gillette Cavalcade of Sports (NBC)
7. The Lone Ranger (ABC)
8. Arthur Godfrey's Talent Scouts (CBS)
9. Hopalong Cassidy (NBC)
10. Mama (NBC)
Emmy Awards
Best Drama - Pulitzer Prize Playhouse (KECA-TV)
Best Actor - Alan Young
Best Actress - Gertrude Berg
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Time Capsule: 1950
TV hero Hopalong Cassidy peaks in popularity. 600,000Hoppy lunchboxes were sold in 1950 alone.
KRAFT® Deluxe process cheese slices - the first commercially packaged sliced process cheese - are introduced.