Bronx Lullabye/Smugglers Waltz Lyrics

Lyric discussion by smacintyre 

Cover art for Bronx Lullabye/Smugglers Waltz lyrics by Tom Waits

The lyrics aren't right. It's: For a dime bag of schoolboy Tied up with a yellow balloon

So he is not hunting for a person. He is a drug addict looking for a dimebag of cocaine (schoolboy is slang for coke) Balloons are also used to contain illegal narcotics.

I can only guess about the rest of the song. Maybe in his drug induced state he accidently killed his son (downed in bath tub, starved, etc)

And I agree. It's one of the saddest song ever. Equally sad is The Tragically Hip's Fiddler's Green.