Lyric discussion by metalgrace 

Like many people I think its about Katrina.

"Water grey, through the windows, up the stairs" Houses got flooded during the hurricane.

"Chilling rain, like an ocean, everywhere"

Fits with the hurricane/flooding theory.

"Don't wanna reach for me do you? I mean nothing to you, the little things give you away"

This is telling. LP has known liberal leanings, so this would be a commentary on the governments poor reaction time.

"And now there will be no mistaking, the levees are breaking."

Again, hurricane reference.

"All you ever wanted, was some one to truly look up to to you."

Could be talking about the government, or even Bush himself.

"Now six feet, under water, I do."

Bush surveyed the scene from his helicopter. This could be an Ironic statement from the point of view of a hurricane victim.

"Hope decays, generations disappear. Washed away, as a nation simply stares."

Another hurricane reference. And more on the poor reaction to the crisis.

"All you ever wanted, was some one to truly look up to you. And six feet under ground now I do."

More Irony. "six feet under ground" a reference to death. We failed to act in time.

So, those are my thoughts.

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