Lyric discussion by capitalg 

The lyrics discuss how Dave Grohl felt "like I wasn't entirely myself" during the three-month hiatus the Foo Fighters entered following the tense and unsatisfying first recording sessions for One by One, as well as his uncertaintity about the future of the band.[2][3] The lyric "I'm a new day rising" is a reference to the album New Day Rising by Hüsker Dü, one of Grohl's favorite groups.

From the Wikipedia page.

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