I did a quick search on this question. It was asked during our Good Friday service.
At first, my search came up empty. Really, there was no one who could provide a historical reason as to why this day is called "Good".
Then I stumbled upon this site. It's a blog entry by a pastor in CA named David Tieche. I'd never heard of him before, but, I REALLY liked what he had to say.
Please, please read the Psalm below.
To the choirmaster: according to The Doe of the Dawn. A Psalm of David.1My God, my God, why have you forsaken me?
Why are you so far from saving me, from the words of my groaning?
2O my God, I cry by day, but you do not answer,
and by night, but I find no rest. 3Yet you are holy,
enthroned on the praises of Israel.
4In you our fathers trusted;
they trusted, and you delivered them.
5To you they cried and were rescued;
in you they trusted and were not put to shame.
6But I am a worm and not a man,
scorned by mankind and despised by the people.
7All who see me mock me;
they make mouths at me; they wag their heads;
8"He trusts in the LORD; let him deliver him;
let him rescue him, for he delights in him!"
9Yet you are he who took me from the womb;
you made me trust you at my mother’s breasts.
10On you was I cast from my birth,
and from my mother’s womb you have been my God.
11Be not far from me,
for trouble is near,
and there is none to help.
12Many bulls encompass me;
strong bulls of Bashan surround me;
13they open wide their mouths at me,
like a ravening and roaring lion.
14I am poured out like water,
and all my bones are out of joint;
my heart is like wax;
it is melted within my breast;
15my strength is dried up like a potsherd,
and my tongue sticks to my jaws;
you lay me in the dust of death.
16For dogs encompass me;
a company of evildoers encircles me;
they have pierced my hands and feet—
17I can count all my bones—they stare and gloat over me;
18 they divide my garments among them,
and for my clothing they cast lots.
19But you, O LORD,do not be far off!
O you my help, come quickly to my aid!
20Deliver my soul from the sword,
my precious life from the power of the dog!
21Save me from the mouth of the lion!
You have rescued me from the horns of the wild oxen!
22 I will tell of your name to my brothers;
in the midst of the congregation I will praise you:
23You who fear the LORD, praise him!
All you offspring of Jacob, glorify him,
and stand in awe of him, all you offspring of Israel!
24For he has not despised or abhorred
the affliction of the afflicted,
and he has not hidden his face from him,
but has heard, when he cried to him.
25From you comes my praise in the great congregation;
my vows I will perform before those who fear him.
26 The afflicted shall eat and be satisfied;
those who seek him shall praise the LORD!
May your hearts live forever!
27All the ends of the earth shall remember
and turn to the LORD,
and all the families of the nations
shall worship before you.
28For kingship belongs to the LORD,
and he rules over the nations.
29All the prosperous of the earth eat and worship;
before him shall bow all who go down to the dust,
even the one who could not keep himself alive.
30Posterity shall serve him;
it shall be told of the Lord to the coming generation;
31they shall come and proclaim his righteousness to a people yet unborn,
that he has done it.
Here is the quote from Pastor Dave's blog that was thought provoking...
"One thousand years before Jesus was even born, God the Father and the Holy Spirit and David wrote Jesus a song. First, the song that would detail Jesus’ suffering. The song – which was written by his Father for Jesus was describing precisely what Jesus was actually seeing. Jesus would know that His Father saw everything that was happening to him. Jesus would know his Father understood what was happening. God the Father got it. He knew what Jesus was not only seeing, but experiencing. He’d written a song about it.
But the song didn’t stop there.
Psalm 22 is a victorious song. A song of triumph. A song of hope. It’s a song about how God will do something wonderful, and that generations to come – people who aren’t even born yet – will tell stories about this wonderful thing. It’s said that Jesus had you and I in mind on that cross, and this is proof.
God the Father wrote his boy a song of comfort. And in his darkest hour, delirious from pain, wracked by fear and anxiety, Jesus sang the words of the song written by His Father for him. Specifically for him. Only for him. A song of comfort. A song of promise. A song of hope.
Easter isn’t just about Jesus dying on the Cross, though of course that is absolutely crucial. It’s also about a God who writes a song that his son would know and memorize. A song to comfort his son. A song to remind his son that He was not far away. A song to remind his son, and to remind all of us:
I’m right here.And that is why Good Friday is good."
I’m not going anywhere.
And even if you think I am
I’ll be right back.
If you have a few more minutes to read his whole post, here's the link.