The House of Representatives voted Saturday to deny Pell grants to 667 eligible students in order to repurchase a former Presidential yacht.

During the Presidential campaign, Republicans took no action on the Education Department's plan to change the funding formula for Pell grants. Less than three weeks after the election, the Congress reversed its prior position to support the change in formula.

Under the previous formula, an extra $300 million would have appropriated for Pell Grants, enough for approximately 100,000 students. Rather than sending more deserving kids to college, Congress chose to repurchase a Presidential yacht. The yacht, expected to cost about $2,000,000, is equal to the cost of Pell grants for about 667 students.

Congress Passes $388 Billion Spending Bill

From Reuters, November 20, 2004

The U.S. Congress on Saturday passed a $388 billion package financing government programs in this fiscal year after days of tough talks, but a last minute snag means it may not be sent to President Bush for signing into law for several days.

The Senate voted 65-30 for the legislation late on Saturday that sets aside funds for a range of priorities including a presidential yacht, foreign aid and energy. It is one of the final pieces of work for the 108th Congress and they may return to finish a spy agency overhaul before the end of the year.

The House of Representatives passed the bill 344-51 earlier on Saturday. But it must also approve a resolution that would correct part of the spending bill that would have allowed lawmakers access to the tax returns of Americans and which provoked outrage among lawmakers from both parties.

Freepers say:

If this is true, and it looks as if it is, it's not only wrong-headed, it's positively stupid. The left doesn't seem to have caught wind of this yet, but they will, and this will be a symbol for them to rally behind for years -- decades! And rightly so. (link)

This is FAKE!!!!! The want to buy the historic presidential yacht SEQUIOA back. for 2, yes TWO million dollars. The yacht was used by Rooseveldt and sold by Carter. They now want to buy it back and give it to the NAVY MUSEUM. (link).

I'd rather them build a yacht and give future presidents a swank boat then piss it away at the UN or with the PA. Maybe it'll be armed ... a little OTO 3" and Stinger love'n x^D. Actually, I'd rather just keep my bloody money.(link)