Should We Bail Out GM? What Are Your Thoughts?

GM Leaders flew in their private jets to meet Congress and tell them our country is headed for “catastrophic collapse” if the government doesn´t give them a $25B bailout. GM said it will run out of cash as early as January if it does not get help from the government. Analysts said GM will be liquidated if they are forced into bankruptcy. Republicans are against a GM Bailout although they advocated the $700B Bailout for their crony banks on Wall St., yet the Bush Administration opposes the package saying Congress should instead adapt an existing 25-billion-dollar loan program aimed at helping the auto industry develop more fuel efficient vehicles. Meanwhile, Obama and Congress are studying the entire situation.
On the blogosphere, many bloggers are saying “No” to GM. They want them to go into bankruptcy. Some blame it on the union and union benefits and pensions. Others blame it on CEOs, their private jets, and their inability to manage their own business without outsourcing overseas and taking huge salaries. I heard Michael Moore saying “No” as well. He said GM is building a new plant in Russia and any bailout will allow GM to plant plenty of dollars overseas with no assurity of increasing domestic jobs.
I grew up in Michigan. My father worked in an auto factory in his quest for the American Dream. My father was a proud union supporter. The union viewed ALL workers as equals. They were the first advocates of one person, one vote, regardless of race-ethnicity.
I struggle when I consider the GM Bailout. Why? Because I don´t know what it is. Is it a union bailout? Worker Bailout? Executive-private jet bailout? Offshore bailout? I don´t know!! I support the workers, the union, USA Bailout! Americans need jobs! Those jobs should be bailed out. But is that what GM is promising? Or are they promising to complete their new GM plant in Russia? I don´t know.
I feel the same way about the $700B bailout. No one seems to know where the money is going or what the plan is to solve the problem. No one seems to know who is providing oversight. How is that possible?
My only hope is the new Obama administration, first to provided needed oversight, then to ensure the bailout creates jobs in America and Hope for all of our futures. Most Americans I know DO NOT want a handout. They just want an opportunity to WORK and Support their families!

What are your thoughts?
References:
US economy faces 'catastrophic collapse' without auto bailout: GM