"Wag the Dog" was released one month before the outbreak of the Clinton–Lewinsky scandal and the subsequent bombing of the Al-Shifa pharmaceutical factory in Sudan by the Clinton administration in August 1998, which prompted the media to draw comparisons between the film and reality. The comparison was also made in December 1998 when the administration initiated a bombing campaign of Iraq during Clinton's impeachment trial over the Clinton–Lewinsky scandal. It was made again in the spring of 1999 when the administration intervened in the Kosovo War and initiated a bombing campaign against Yugoslavia, which coincidentally bordered Albania and contained ethnic Albanians. The film grossed $64.3 million on a $15 million budget and was well received by critics, who praised the direction, performances, themes, and humor. Hoffman received a nomination for the Academy Award for Best Actor for his performance and screenwriters David Mamet and Hilary Henkin were both nominated for Best Adapted Screenplay.