Is God Good?

You might often hear the phrase exclaimed, "God is so good!" by someone who just experienced something from the hand of God that they truly appreciate. But that statement - in and of itself - seems to suggest that God is only good when He provides "good" things for His children. Is this true? Is God good all the time or only when we are recipients of what we consider to be "good" things?

Is God good or isn't He?