"Until jobs are being created to replace those we've lost... this recovery will not be finished," Obama says in his Economic Report to Congress. Don't hold your breath, Mr. President. The latest Business Council survey of CEOs finds continued and widespread wariness of new hiring. In a separate survey, two-thirds of board members say firms won't return to business as usual until at least 2013. And S&P companies show no signs of spending, as they increased Q4 cash holdings by a combined 78% to $1.2T from a year earlier.