Only 21% of voters nationwide support a plan for the government to bail out General Motors as part of a structured bankruptcy plan to keep the troubled auto giant in business.

The latest Rasmussen Reports national telephone survey finds that 67% are opposed to a plan that would provide GM with $50 billion in funding and give the government a 70% ownership interest in the company.

Even when presented with the stark choice between providing government funding or letting GM go out of business, only 32% of voters support the bailout. Most voters (56%) say it would be better to let GM go out of business.

As on many issues, there is a huge gap between the views of the Political Class and the rest of the nation. By a two-to-one margin, the Political Class says it is better to provide the bailout funding than to let GM fail.

Most political conservatives and moderates say it’s best to let the company fail, but liberals are evenly divided. A majority of voters in all age groups say it’s better to let GM go out of business. So do 59% of men and 53% of women.

An earlier survey found that 76% believed economic recovery was possible even if GM fails.

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Looking back at the bailout funding already provided, 60% say the auto bailouts were a bad idea. Two-out-of-three believe that most of the bailout money is going to those who caused the economic crisis.

Only 18% say the federal government will do a good job running GM. But they suspect the government will do all it can to help its investment. After taking ownership of GM and Chrysler, 57% expect the government will pass laws and regulations giving those companies unfair advantages over others.

Despite that, 61% say Ford is more likely to survive than either GM or Chrysler. Ford has at least one big advantage over its Detroit-based competitors: 51% of all Americans say they are more likely to buy a car from Ford because it did not take bailout funding from the government. Just 12% are less likely to buy from Ford for that reason, while 33% say the bailouts will have no impact on their car-buying decisions.

Looked at from the other perspective, just 12% would prefer a car from a bailed-out automaker

Ford is viewed favorably by 64% of Americans. Ratings for GM and Chrysler are much lower.

Earlier surveys found that only 25% would buy a car from a company in bankruptcy.

Voters consistently have opposed all forms of bailout funding. Fifty-four percent (54%) opposed bailouts for the automakers, the finance companies and homeowners struggling to pay their mortgages. There is strong opposition to federal assistance for the financially strapped state of California. Seventy-six percent (76%) opposed the bailouts provided for insurance companies.

Yet while most voters were against bailouts for the failing auto companies and the financial industry, the federal government provided support for both. Some critics, particularly those who favor the auto industry, have noted that the terms and tone of the bailouts were markedly different, however. An analysis by Scott Rasmussen explained the underlying reason for the double standard.

Not surprisingly, most Michigan voters favor government loans for GM and Chrysler. Michigan voters also believe the auto bailouts have been good, but the bank bailouts are bad.

Nationwide, opposition to bailouts helped spur the “Tea Party” protests which were viewed favorably by 51% of voters.

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