Lyric discussion by All your insides fall to pieces 

I think she was the offender here and she was trying to ease her conscious by saying its "just a little white lie". She tells a lie to conceal her wrong doing, and gets off with its "just a little white lie". I think he is slightly sarcastic when he says "It's just a little white lie",implying if it was "just" a white lie to her he can also fuck up and rub it off as a little white lie,hence the line "then it's all the same to me". Tit for tat situation. The opening lines is his attempt to generalize we all tell fibs at some stage in our lives, so his issue is not that she lied, his issue is that she rubs it off/console herself with "It's just a little white lie". She is thus not taking responsibility, hence him saying "I don't want you to forget" (fourth verse). In the last verse he is asking what would happen if the tables were turned, "If I was to blame would you still believe?" He probably knows the answer to that as she probably gave him shit about a minor wrong doing in the past. He concludes by saying and "if I was a thief?", which he knows she feels is wrong. So he is trying to erase any discrepancies between offenses, implying they are the same, all equally wrong. Anyway just my little white take on the song! Love it!

@All your insides fall to pieces very good point of view and I agree with you.

An error occured.