Lyric discussion by haunt3r 

Cover art for Waves lyrics by Portugal. The Man

Yeah, the more I hear it, the more I think it's probably aimed at politicians specifically than the isolationist feelings in the population as a whole, especially given the clear anti-war sentiments. Lines about military budgets and money support that since the politicians are the ones in charge of that sort of thing.

The government "at the bottom of the ocean" doesn't feel the waves that are at the surface (the war occurring on the other side of the world). Intellectually they know the "waves" are there but they don't really care because it's all distant to them, just numbers on a page, just statistics. It's not something they truly feel; the "Someone's gotta die and you don't have to love him" line references the many anonymous soldiers the leaders in Washington will never meet.

They forget that those numbers represent real human lives and that sending folks off to war rips people from their families. "All the pretty girls out there livin' with heartache / crying 'cause they're never gonna see their baby" makes me think of mothers, wives, girlfriends who say goodbye to their soldiers, some never to return.

My Interpretation