The woes of what was once America's once-greatest icon, General Motors, go from bad to worse with the company announcing a $15.5 billion second quarter loss.

It creates a vicious circle for the auto maker because it means there is less to spend on fuel-saving cars to replace the pickup trucks and sport-utility vehicles that US buyers are now shunning. And with gas prices showing no sign of letting up, things are going to get worse. The bottom line is that the company is burning more cash than it's earning and it's hard to see how this will change.

That's why Jerry Flint at Forbes asks the hard question: should the company's dog operations in the US be put down? "When a ship goes down the passengers and crew try to escape by Rowing away. When doctors find gangrene or cancer, they cut out the diseased tissue so the body can survive. Now let's consider the fate of General Motors. Sixty percent of its 9 million vehicle sales are abroad, and profits are robust there. Can or should the sickly U.S. operations be cut away to save the company?"

The only chance the company has is of fuel prices stabilizing and car buyers deciding to give the company another chance. But it's hard to see that happening.