Now's my chance to 'shine'

So, I'm taking back the work. The only problem is that our budget is 3/4 gone and we've only done about 1/4 of the work. Oh, and we're late. So, I'm trying to decide if I should just grab the bull by the horns and not worry about the wreckage that I leave in my path, or try to keep people happy. I'm thinking that the bull route is the way to go. If I go for happy people, we lose the contract. I think that I'd rather have the contract and deal with hurt feelings later on (or maybe even never - we're all adults, technically).