NavyGirl (very useful site) has 1Navy.com pointing to it, but I’m pretty sure this vanity plate is in reference to the call sign of any United States Navy aircraft carrying the President of the United States. There has only been one such aircraft: an S-3 Viking, assigned to the “Blue Wolves” of VS-35, transported President George W. Bush to the aircraft carrier USS Abraham Lincoln off the coast of San Diego, California on May 1, 2003. [wikipedia]
Yes, that was the date Bush stated was the end to major combat operations in Iraq. The driver of this Oldsmobile Aurora 4.0 may be either Commander Skip Lussier or Lieutenant Ryan Phillips. The Pentagon is right here, so we get all the top gun types (with and without vanity plates).