Again, Cowen inherited the massive headache that the ESRI report unleashed, though his critics argue that he was responsible for the management of the economy to a large extent when he was minister for finance.
That may be somewhat true, but the fact is that the buck stops at the taoiseach's office on whatever the issue of the day is.
Since then it has been tough sledding for the new faces in government put together by Cowen. The trip to New York that Cowen will take next week will allow him a valuable respite outside the country.
It will also give him the opportunity to showcase his skills in the economic arena and to address head on many of the criticisms abroad about the Irish economy. His keynote speech at the Wall Street 50 event hosted by our sister publication Irish America magazine will be closely watched to see the emphasis he places on what future actions he will take.
Cowen will also meet at first hand many of the movers and shakers in American business, as well as address the editorial boards of The Wall Street Journal and New York Times among others.
All in all a perfect opportunity for the new man to get to know America, and America to get to know him - and perhaps, more importantly, send the message back home across the Atlantic that he is on top of what needs to be done on the economy.