This song uses Donny Hathaway, who was Roberta Flack's writing partner before he committed suicide, in a symbolic manner. "You'll never catch us, so just let me be" means that the protagonist of the song is completely alienated from society. He feels no one will ever understand him, so he just wants people to leave him alone. "Said I'll be fine till the hospital or American Embassy" means that he is planning on either committing suicide or going on a rampage against society. "Miss Flack said, 'I still want you back'" means that people are willing to help the protagonist with his problems. "I've got troubled thoughts and the self-esteem to match" pretty much means what it says. "What a catch, what a catch" means that he realizes that this is a sad state he is in. "All I can think of is the way I'm the one who charmed the one who gave up on you" means that he screwed somebody over in his past and he regrets it.

"They say the captain goes down with the ship, but when the world ends, will God go down with it?" furthers the evidence that the protagonist is depressed and thinking of death.

After the second chorus, the covers of old Fall Out Boy songs by various bands indicate that the protagonist has accomplished great things in his life, but he feels that others will always usurp him.

The line, "I will never end up like him, behind my back I already am, keep a calendar, this way you will always know," cements the fact that the protagonist stole someone's wife/girlfriend.

Basically, the song is about a man who was very successful, but somewhere along the line he lost hope in his career, and was disheartened because he felt that others did his job better than he could have. He becomes depressed and alienated from society. He becomes a recluse who eventually commits suicide. The song vaguely mirrors Donny Hathaway's life.