Hi to all, and a request for opinions/advice

[Excalibur]

Hi, everyone. I'm happy to be a new member of the Rotary Car Club--but instead of an introduction, I have a newbie question.

I bought an '84 RX7 GS a few weeks ago. Monday, the car started blowing white clouds out the tailpipe upon startup--coolant, not oil smoke. Have started the car once since then, with the same result. In fact, there was some coolant actually dripping out the tailpipe.

Is the motor totally trashed? Or is there (hopefully) some way to repair the problem without spending the Gross National Product of several Third World nations in the process?

Sorry to bother the membership with such a dumb question, but I'm no mechanic and not too familiar with 12As, and these forums represent the largest concentration of knowledge/talent/expertise I know.

With thanks and best regards to all,

Paul
(Excalibur)