I need help understanding the meaning of "insofar as"

A general way of looking at the phrase insofar as is to examine the definition of the phrase: to the extent or degree that. With this definition in mind, we may conjecture that the the words extent and degree are quite similar to the word while - in that extent is a limit and while is a condition precedent to a limit being reached.

Another way of examining the phrase - to better comprehend its use - is to take a look at one of its synonymous phrases inasmuch as, which means in view of the fact (since). If you look at the phrase in these two ways, you will come to the conclusion that it can be used to describe a period of time or the conditions to that effect.

Sources:

• http://www.merriam-webster.com/dictionary/insofar%20as
• http://www.merriam-webster.com/dictionary/inasmuch%20as

To my perception, it's more like with respect to the fact that. The news is good: but what I'm particularly concerned with is that it suggests a possible solution, and that's why it's good news.