Lyric discussion by Bbo 

Cover art for Cheer Down lyrics by George Harrison

I think it's about someone (George) who tries to hide sadness/depression by being overly cheerful. Cheer down means someone (Olivia) has noticed it, and she's urging him to step back off the ledge, let it go, and quit trying so hard.

The song goes through lists of problems and show that no better you think it is, if you manage your worries and fears they can't control you. That is a constant in his lyrics and world view; for example, from "This is Love":

Since our problems have been our own creation They also can be overcome When we use the power provided free to everyone

Hare Krishna Hare Krishna Krishna Krishna Hare Hare Om.

Song Meaning

Error - "The song goes through lists of problems and show that no better you think it is," should have been "The song goes through lists of problems and show that no matter how bad you think it is, "

Sorry about that.