Lyric discussion by UntilYouReform 

Looking at it again, this could definitely be about an abortion. The female partner got an abortion without the father's consent ("jamming words down my throat"). Though the baby was unexpected, the future father was very much looking forward to having a child, and is extraordinarily angry at the mother (there's so much sarcasm in the "oh, we're so innocent" line) for taking that away from him.

The father was looking forward to what he could have done for his child (the "house on the ocean" line, demonstrating doing the impossible for your love), but that is over, and in a very graphic depiction of how when the abortion specialist cut into his partner's body, that person also "cut through" his.

Cutting through to the "live feed," or the present, the mother now regrets her decision, and soon her regret and her husband's depression "bleed" slowly into one, and they realize they only have each other.

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