The jet is, in fact the property of the People of The United States of America. It is supplied to the individual who serves as the President, whomever that may be, for use in support of the duties of office.
I'm surprised the tally did not include the value of armor plated limousine provided for his use, the value of the 24 hour guard protection provided by the Secret Service, the value of the telephone line to his desk in the Oval Office, and the cost of the pens used to write things down when he is at work.
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