Lyric discussion by Dickfornose 

Cover art for Wasted Life lyrics by Stiff Little Fingers

Wasted Life is basically an anti-paramilitary, but also an anti-establishment song (Stiff were and are politically aware) that basically threw up two fingers to the situation in Northern Ireland known as the troubles. Stiff focused this song, however, largely on paramilitaries and argued that they were nothing more than opportunists, egoistical and utopian. Note the sarcastic singing in lines such as "be a PEOPLE'S SOLDIER" and "IMPORTANT CAUSE". They specifically refer to the paramilitaries as fascist, which was an argument made against the IRA and Loyalist groups in general throughout that period (and to some extent today). Although the song blames paramilitaries for the unbareable situation its generally clear in parts of the song that they are anti-establishment ("And rules and regulations...That merely cause disturbances and wars...That is what I've got now") The title of the song not only is about how paramilitaries have "wasted" their lives but also how they waste the lives of others.