Spudnuts

1 pound russet potatoes, peeled and quartered
2 (1/4 ounce) packages active dry yeast
1 1/2 cups warm milk (110 to 115 degrees F)
1/2 cup vegetable oil
1/2 cup granulated sugar
2 eggs
1 teaspoon salt
7 1/2 cups all-purpose flour
Oil for deep-fat frying
4 cups confectioners