Solve the Simple Equation

Can you solve below mathematical equation?

2^1234 - 2^1233




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_ _ _ IE _ _
_ _ _ IE _
_ _ IE _ _
_ _ IE _
_ _ _ _ IE

Like you see, some letters have gone missing from these words that contain the IE pair at some or the other place. The letters that will be used to fill the blanks are given below. Use them and form meaningful words. Can you do that?

A, C, D, F, H, K, L, M, N, N, O, R, R, S, S, S, T, T, Y and Y.

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It can't be seen, can't be felt, can't be heard, and can't be smelt.
It lies behind stars and under hills, And empty holes it fills.
It comes first and follows after, Ends life, and kills laughter.
What is it?

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Crossword

The day before the 1996 U.S. presidential election, the NYT Crossword contained the clue “Lead story in tomorrow’s newspaper,” the puzzle was built so that both electoral outcomes were correct answers, requiring 7 other clues to have dual responses.