Surrounded (Or Spiraling) Lyrics

Lyric discussion by ninjapirate 

Cover art for Surrounded (Or Spiraling) lyrics by Silversun Pickups

This song is mesmerizing.

I'm quite sure it's about a couple that is going through bad times/falling apart but trying to keep it together. There is a lot of evidence for this in the lyrics.

The "Remember..." lines are talking about when they met/were still totally into each other

The rest of the lines are a commentary on the current (sad) state of their relationship. ("is it perfect in our little hell" = they're acting like everything's ok when it's not; "romanticize our beloved memories" = let's hang onto the past; "can we get behind distortion and liberties" = can we just pretend it's all good?, etc.)

He's surrounded, because they feel like they're in so deep they can't get out and they're both acting like it's all good.

I think that's definitely the meaning.