Lyric discussion by SaiyaJedi 

This song is made up of three major parts, connected by the theme of a place that's still pure and untainted by the harsh realities of the world (more likely than not, it's less of a real place than a theme used to underline the childlike innocence that disappears as we get older). The narrator can take the person he's singing to there, and they can lie there together in happiness... but it's just an illusion, and no matter what they do, they'll eventually have to accept that they'll have to deal with the real world.

The first verse symbolizes the happy dream of a family, with a loving childhood and parents who stay together forever -- but "happily ever after fails" and the family falls apart, since "daddy had to fly." The narrator reflects that they've been "poisoned by these fairy tales" because it led them to believe that things would always be perfect, and the "lawyers dwell on small details" coldly, without regard for the happiness that should have been.

In the second verse, the theme of innocence is shifted to the USA -- "O Beautiful, for spacious skies" evoking "America the Beautiful" -- but in the course of the Reagan Administration ("The tired old man we elected King") that goes wrong, and suddenly there are scandals, and harsh stances against the Soviets that seem to invite conflict. Once again, the illusion of America as the bastion of righteousness evaporates, and the "lawyers clean up all details" in the aftermath of the scandals, since "Daddy" (Reagan again) acted un-Presidential and "had to lie."

The third and final verse takes the loss of innocence to a more personal level, as the narrator reflects back on his time with the girl he loves. They are both on the cusp of adulthood, having "come so far so fast." Though they share the "same small town in each of us" from their past, he realizes that their lives will take them along separate paths, so he wants to share one last pure, innocent moment with her ("I need to remember this"), "before we say goodbye."

And so, childhood ideals, sincere patriotism, and pure first love give way to the harsh realities of the adult world.

very well done-- I think you see the bigger picture and by identifying the underlying theme aren't constrained by the need to force one metaphor to fit the whole song

I've been pondering the meaning for awhile now so I do a search today and find your explanation, I like it and accept it, Thanks

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