Lyric discussion by Hermitage 

My interpretation is that this song is about a relationship on the edge of breaking up. This is a very intimate song. Listen to how tenderly and sadly he sings it. He's talking to a lover, a partner that he has loved for many years. But there's something seriously wrong.

(this interpretation works best as a personal letter of angst) Honey,

I need you to come down off your pedestal for a minute, get off your ego trip, and be a real person for me. And leave your body alone, too. You are beautiful. You don't need to focus on your next hair appointment, body waxing, the cellulite on your legs, your daily workout, or any of it. That's all superficial, anyway. I love you as you are. But one of us, you or me, must change. Because we can't keep going on this way.

I love you very much, and you are the reason I've stuck with it for this long. But I'm feeling chained down, and one of us holds the key. You either need to change, releasing me to love you, or I'll release myself to love somebody else. But somebody holds the key.

I'm sorry this isn't more loving and gentle, but I'm reaching the end of my limits. I just don't have the time to keep waiting for you forever.

I am physically and emotionally drained - I'm wasted. I want a partner who means 'home' to me, and I just can't find my way home with you anymore.

                          Love, ~~~

A lot of people interpret the word, 'wasted', as being stoned. That is the modern meaning. but it didn't mean that 45 years ago. The traditional definition of wasted is "physically and/or emotionally exhausted".

Anyway, the second verse goes on from there.

@Hermitage This is what I heard the only time I've listened to it. ^. Great song.

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