Lyric discussion by Lodair 

Cover art for All Time Low lyrics by Nine Inch Nails

I think this is about being depressive ("looks like another all time low"), and trying to escape this either through drugs ("you barely even pierced the skin") or sex ("get down on the floor. shut the god damn door") or both. It's a concept similar to the one of "Closer", i.e., trying to escape sadness/hopelessness through activities that lead to physical pleasure.

My Interpretation