What truly separates McMahon from the heard is his honesty...it's just so goddamn refreshing. Take the girl he wants to save. She's not complex, she's not painted to be something she's not. She works, she sleeps around to fuel her craving for attention, and she just wants someone to tell her she's beautiful. McMahon doesn't have to act like he's better than that, like some other pussy artists would do. He just wants to save her, to be the one to tell her she's beautiful. Though this seems like just a case of adolescent infatuation on McMahon's part, the song is direct and powerful, as it speaks to that strange compulsion that men have to save or "fix" his female counter-part. Though some may argue its to feel empowered, I just think in McMahon's case he really believes that no one has treated her the way he could treat her if they were together, if she would notice him.

she drives away
she's feeling worthless
used again but nothing's different
she stayed the night
but knows he doesn't care

^^ so much said in a few lines.

she'd cry herself to sleep
but she don't dare
then she wants to be a model
she wants to hear she's beautiful

^^ this one too.

Maybe this has already been said, but I always thought the song was about the narrator watching someone fall apart from a distance, and of course, wanting to save her. Or perhaps she's losing her fire, having it beaten out of her with each day simply from time passing. I never get the feeling that he tries to reach her. It somehow reminds me of the song "Clumsy" by Our Lady Peace, when Raine says "I'll be waving my hand, watching you drown, watching you scream, quiet or loud." Like the singer truly cares for this girl, but just admires her from a distance, or makes it known that he'll be there, but she has to ask for help.
Also, the girl doesn't have to be a whore, or slut, or anything. I get the feeling that she's just... lost. Looking for something better than the day-to-day but heartbreakingly settles for who she thinks is the only person to give her the time of day, even if only for a few hours/minutes/whatever per night. Like being stuck in a permanent state of the very moment you sigh and think, "Is this really all there is?"
I gather that she sneaks home late and leaves early because where she lives, although it's her home, doesn't feel much like it. She feels like her family doesn't understand her and so she avoids them, avoids the look in their eyes that begs the question, "What are you looking for?" Because if you look at her, it's written all over her face. This girl is living the life of a ghost, and doesn't see how it can be any different, but hopes one day it is.

And yes I got all that out of a song. Maybe a little rant about my life too.