Tuesday, December 07, 2004

Sure, We Have a Deficit, But Let's Buy Back that Yacht

Typical Washington math: President Jimmy Carter sold it for $286,000, now Congress wants to buy it back for $2 million -- and the owner says that's not nearly enough. It's the Sequoia, a Presidential yacht used by every President from Herbert Hoover to Gerald Ford. President Carter sold it to rid post-Watergate America of a vestige of the "imperial Presidency." Now Republican leaders want to buy it back -- fearful it'll be sold and turned into a riverboat casino. The current owner rents it out for $10,000 a night and says $2 million isn't nearly enough to buy the boat. Historians hail the purchase plan. (LAT)

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