This song is about many facets of the state of our country in the 60s. Mrs. Robinson was originally supposed to be Mrs. Roosevelt, named after the First Lady. The next lines after the chorus are referring to "Big Brother". The government was really just starting to get into invading everyone's privacy. It means, this is your future, get use to it. After the next chorus, the song is referring to many different things, pot, booze, pills, affairs, even true feelings and opinions the parents might have. They are the adults, they can't let their kids know they basically do they same things they do. One had to preserve appearances. The next first is obvious;about the state of politics in the US at the time. The reference to Joe DiMaggio was about how he was a hero, a good and honest and moral man, how he wasn't out there any more for people to look to. Alo, it was not completely literal, meaning where have all the good guys gone?