Lyric discussion by muskcat 

My personal interpretation: I can't help seeing a blatant reference to Jack and Meg relationship here.

"You fell down of course and then you got up of course and you started over forgot my name of course"

Meg was the one to ask for divorce, Jack was probably willing to save the marriage. She got probably depressed in their relationship, divorced him and then tried start over dating someone else.

"then you started to remember pretty tough to think about the beginning of december pretty tough to think about"

After the divorce came a hard time for both of them, and remembering their past together hurts. I believe "the beginning of december" refers to Meg's birthday (december 10th).

"You're looking down again and then you look me over we're laying down again on a blanket in the clover the same boy you've always known well I guess I haven't grown the same boy you've always known"

His remembering of them laying on a blanket in the clover may refer to the time when they were dating, when he was only a boy (they married when they were both 21, very young).

"Think of what the past did it could 've lasted so put it in your basket I hope you know a strong man who can lend you a hand lowering my casket"

He sounds bitter here, he probably means they could have saved their marriage, but she didn't want to. He thinks she'll regret it someday and wishes for her to be able to find a man who will help her really forget about him.

"I thought this is just today and soon you'd been returning the coldest blue ocean water cannot stop my heart and mind from burning"

I think this is a way of saying that sometimes he can't believe their breakup really happened, and in spite of her coldness, deep inside he still feels in love with her.

"everyone who's in the know says that's exactly how it goes and if there's anything good about me I'm the only one who knows"

He's wondering if she was ever able to really see the all good in him, probably unconsciously blaming himself for not being good enough to make her stay.

An error occured.