Lyric discussion by ontheinside 

Taken straight from the Rolling Stone article:

"One of the album's strongest songs, "Go On," juxtaposes coming to grips with Riley's [19 year-old family friend] death and watching his own son grow up and learn to tread water for the first time. In fact, as Johnson was writing lyrics for the album, he noticed that many of the lines could apply to his children and to Riley. "It's about learning how to let go of someone you love," he says, "watching them swim away."

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