General Motors and Chrysler are back this week seeking $22 billion more in federal help, but 64% of U.S. voters are opposed to providing any additional taxpayer-backed loans for the embattled automakers.

Twenty-four percent (24%) support more loans for GM and Chrysler, and 11% are undecided in a new Rasmussen Reports national telephone survey.

Forty-four percent (44%) say it is better for the U.S. economy to let companies like General Motors fail than for the federal government to provide subsidies that will keep them in business. Thirty-three percent (33%) say subsidies are the better way to go, and 23% are not sure.

In December, just 40% thought it was better to let the auto companies fail.

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While GM plans to start paying back the government loans totaling nearly $30 billion by 2012, 57% say the government is not likely to get the money back. Only 41% think the loans are even somewhat likely to be re-paid, a figure that includes 12% saying it’s Very Likely.

Sixty percent (60%) of Democrats say it’s likely the taxpayer-backed loans to the auto companies eventually will be paid off. Only 27% of Republicans and 34% of unaffiliated voters agree.

The loan requests - and the major restructuring plans both companies are required to produce by March 31 - must be approved by President Obama’s new Cabinet-level Presidential Task Force on Autos. But just 13% of voters think the automakers will run better if they are run by the federal government.

Seventy-one percent (71%) believe federal government oversight will make them run worse. These numbers are up slightly from a survey in early December.

Not that Americans have much confidence in corporate chief executive officers. The favorability ratings for CEOs has now hit rock bottom, below even members of Congress.

After Congress failed to agree on an auto industry bailout package in the face of strong public opposition, President Bush in early December authorized loans for the two automakers in exchange for radical retooling of their businesses. Chrysler has borrowed $4 billion and is seeking an additional $5 billion. GM has already borrowed $13.4 billion to stay in business and is seeking as much as $17 billion more. Ford has not sought any government help.

Americans are much more critical of the Big Three automakers than they were two years ago, particularly the two companies that have sought government aid. But 41% still believe the U.S. automobile industry is very important to the financial stability of the overall economy.

Seventy-seven percent (77%) of Republicans and 68% of voters not affiliated with either major party oppose additional loans to GM and Chrysler, as do 50% of Democrats. The United Auto Workers are a key union ally of the Democratic Party.

But half of Democrats (49%) think it is better for the federal government to subsidize the automakers rather than let them fail. Most Republicans (58%) and unaffiliated voters (52%) say letting the companies go under is better for the economy.

Among investors, 49% say failure is the better economic option, while 28% support more government assistance to the companies.

The Rasmussen Investor Index, which measures daily confidence, is still hovering in record low territory.

Eighty-two percent (82%) of GOP voters, 78% of unaffiliateds and 56% of Democrats say the automakers will not run better under government control. Investors overwhelmingly agree.

Even 74% of government workers say the companies are better off not being run by the government.

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