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Falling markets and a sour economy have opened a gap of more than $200 billion in the pension plans of S&P 500 companies, including Ford and GM. Will taxpayers get stuck with the bill?

A bankruptcy of General Motors or another major automaker could hit American consumers hard, industry experts warn.

Neither a bailout nor bankruptcy may save General Motors or the other Detroit automakers. So imagine the cost of losing GM, starting with millions of jobs.

Those who think bankruptcy makes sense for GM say the company needs to revamp and slim down. Others doubt it will help.

Ashley Milne-Tyte reports.

It worked for the airlines, but it might not work for General Motors. Saving the company through bankruptcy is probably not a viable option for the troubled automaker.

There was a time, says commentator David Frum, when GM was one of the biggest employers in America, but that's no longer true.

Besides, even with a bailout, more job cuts are coming.

With the debate about bailing out GM reaching a fevered pitch, Ashley Milne-Tyte asks, what would a GM rescue plan look like and what would actually happen if the giant automaker failed.

The government has stepped in with nearly $125 billion to try and stabilize AIG. The nation's banks are tapping even more.

Now General Motors wants its own bailout.

The latest earnings reports are grim: In addition to big losses, both Ford and GM are burning through dwindling supplies of cash.

Asia and Europe see strong advances. Auto companies are to report sales declines. GM-Chrysler merger is in doubt.