Lyric discussion by N 

And what's with 'And the cats in the cradle and the silver spoon, little boy blue and the man on the moon'? Is this typically American? What does it mean?

Cats in the cradle, silver spoon, little boy blue, man on the moon are all references to nursery rhymes, some written in america and some in england. The nursery ryhmes refernce reenforces the idea that it was during those formative years that this mans child learnt that being a workaholic with no time for his family is the way to live life.

@N The song's chorus references several childhood things: The Cat's in the Cradle string game, silver spoons that are given to babies as christening gifts, and the nursery rhymes Little Boy Blue and Man in the Moon. (text taken from Wikipedia)

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