Not much you can do about it now, but when you replace the hose, make sure that it is NOT rubbing against anything.
I second what Jetdoc said. When you replace the hose, if moving the bolt is impractical, cut up the old hose and use it to wrap the new hose at the spot the bolt rubs to keep the bolt from wearing through the new hose. Zip ties, hose clamps, or even duck tape will work to hold the "patch" in place. You don't want it tight, just snug enough it won't move.
And for the record, a 1997 Grand Marquis is a good car. I've owned 1982, 1993 and 2004 Grand Marquiss in the past, and I still have the 1978 Grand Marquis I drove in high school. Keep that 1997 on the road as long as you can.
two things prolly happened over time. either the wrong hose is on there, or there's a hose clamp missing.
there is something you can do about it now!
in the interim, you can get hose insulator wrap at any auto parts store. maybe find an app clamp. or the correct hose app if that's the issue.
Take a look and see if there are any factory notices about this issue. You could possibly get a free fix if it hasn't been too long.
thats not factory.
I have a 1997 Mercury Grand Marquis. The only leak in the hose is from the EXACT spot where the bolt is pressing into the hose. This is either a flawed design, a repairman's mistake, or somehow the hose moved and got pressed into the bolt. It just doesn't make sense. Thanks for any help.
