Misich's testimony eclipsed the earlier testimony of two former White House computer specialists who also questioned the turnaround rate.

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Ms. MAHONEY: Well, on January 2nd, The New York Times reported that Chicago was having a turnaround in its homicide rate and that they had had their killings at their lowest tally since 1965.

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This program not only offers extraordinary liquidity, but also allows banks in the Eurozone the ability to recapitalize as they will be able to borrow at a 1 percent rate and then turnaround and buy government bonds that have yields over 6 percent.

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By the presidential-re-election year of 1984, it had undergone a remarkable turnaround and was growing at a rate of 7.2%.

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But it omits the fact that in February the economy was in the midst of a turnaround and wound up growing at a 6.1% annual rate for that quarter, according to Department of Commerce data.

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Much of that feeble growth will come from a turnaround in the inventory cycle as companies stop de-stocking at the scary rate that exacerbated the recession in 2009.

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