In its hotly awaited viability plan submitted to the government today, GM requested up to $30 billion more in aid from the federal government and pledged to do its part to save cash by cutting 47,000 jobs worldwide. It will shut five United States factories.

Despite the dire outlook and requests for a total of $30 billion, GM said it could become profitable again in two years and pay off the government loans by 2017.

Meanwhile, the UAW said it had reached tentative agreement on concessions talks with GM, Chrysler and Ford, but would not release details until the plan was fully hammered out.

The Obama administration’s auto task force will review the reports from GM and Chrysler and make a decision on any further aid by the end of March; the deadline could be extended to April if required. If the government deems the reports unsuitable for profitability and recalls its loans, GM and Chrysler would most likely go into bankruptcy.

In addition to $2 billion in both March and April of this year, GM details a revolving line of credit it must refinance in 2011 for $4.5 billion; GM predicts private lenders will not refinance the debt, so it wants the government to do so. GM predicts that if it goe sinto bankruptcy, the government will be forced to act as its lender to the tune of $100 billion.