The subject matter of this song is a relationship. Frontman Dexter Holland told Spinner the lyrics can be interpreted in two different ways. He explained: "Relationship songs can be really dark and depressing. Or if they're romantic, they don't feel right for our band because we don't want to be cheesy. If I'm writing about a relationship, there will be two sides to it. Things aren't black and white in real life. There's always some gray area. You can be the best and worst guy in the world at the same time. You can take the song a couple of different ways. It could be that the lovers are hanging on through the storm because all they have left is each other. That's the romantic way. Or, it could be one person is hanging on even though they should be apart. You can interpret it opposite ways even though it's the same lyrics."
Noodles, The Offspring's guitarist, also weighed in: "There are some pretty guitar parts in it that provide a yin and yang with all that sadness."