I think this is a stab at "moral" America.
The way I read the lyrics,is that it used to be very clean cut people (a bit like Brad and Janet in Rocky Horror) getting married and settling down as responsible members of the community.But they still managed to wreck things(so did Brad and Janet).Maybe because they were so uptight.
This song says i'm not gonna play that way.We're not Mr and Mrs perfect(beutiful miss America or Mr right),but without your hangups we can make the world better("Won't Be Makin' The Mistakes Our Fathers Made").
However,it's not one of my favorite Meat songs.
5/10 Between the past and something dawning new.