I have heard this several times this week from several different people in several different situations. And I agree, God is certainly good.
Every time I have heard it, it is because something good is happening to that person. I just want to ask... Is God still good when something "bad" happens? It seems most people attribute the good that's happening to them to God, and the bad that happens to them to Satan. And of course 'good' is always relative. It is what WE perceive as good.
I believe the bible says that God is directing and has predestined EVERYTHING that happens. the good and the so-called bad. (How do we really know what is good or bad for us anyway?)
According to Romans 8:28, all things work together for good to them that love God, to them who are the called according to his purpose, ALL THINGS!
If you are one of the called, one of the ones that love God (only because he causes you to love him), then every single thing that happens to you is good for you.
What a good and comforting thought!