The phrase about money being elastic means a young couple don't need to make a lot of money to provide for their child. Parents can give their kids a good childhood even if they are poor. They just have to love their kids and get them the basics. (It's counter to the common notion that parents must do everything they can for their family, including work that pays well but helps ruin the world. That mindset makes every evil in the world justifiable, as long as you're doing it to feed your family.)

"Cavalcades of losers, losing their minds. Hoping for disaster. Settin' off alarms. Amid all of the deranged." - these verses refer to the alienation a young, poor family can feel compared to the middle class families bent on the appearance of succes.