Lyric discussion by musicsnob 

I, too, think the song is likely about a relationship and not an abortion.

"Big-boned and fey" is not a description of pregnancy (pregnant women are not usually thought of as ugly), but feeling less happy about herself when her partner is not present.

"Should we go outside? Should we break some bread?" seems to me to be a reference to a picnic. Breaking bread could have religious connotations, but mostly I think it just refers to sharing a meal.

And counsellor is actually a real word. It was the name for the chess piece that eventually became the queen.

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