ST. JOHN'S, N.L. -- Poor management and a culture of indifference toward debt have brought Newfoundland and Labrador to a financial breaking point, according to a long-awaited economic report released Thursday. The report titled The Big Reset says the province's overspending and debt-servicing burden put it at risk of being unable to pay public sector salaries and keep hospitals running. To correct course, the report says the government needs to rein in public sector spending, re-evaluate its contracts with unions and dismantle the provincial energy corporation. "We have been shocked as a panel to talk to very senior managers ... who just think that deficits don't matter," said Moya Greene, who chaired the team behind the report. "We were pretty surprised that we don't evaluate any of our programs, we just keep adding to (them). Those are ordinary principles of management."