Yes, you're a big ship loaded down with a whole lot of baggage and freight,
Life's a luxury liner cutting through each circumstance and wave,
Now the cold icy waters have sent the captain with his bottle off to bed,
Yeah, the temperature's dropping, the radio...radio is dead.

Taking on water, going down fast,
Yes, under the breakers,
Send an S.O.S.,
Tell all the passengers to spend what they wanna,
Taking on water.

Call it catastrophe or the hand of the good Lord reaching through,
Call it a tragedy - there will be no last minute interviews,
Got to be a bit heavy handed when you're swimming in the shark infested seas,
Yeah, to get my attention off of my treason and mutiny.

Taking on water, going down fast,
Yes, under the breakers,
Send an S.O.S.,
Tell all the passengers to spend what they wanna,
Taking on water.

Yeah, call me irresponsible, but, baby, call me undeniably true,
Well, at least for the moment when I first set my eyes on you,
Got a big hole in a small heart, I'm asking you...no, begging you to fill,
Gonna take some radical surgery, but you know my...know my nasty will.

Taking on water, going down fast,
Yes, under the breakers,
Send an S.O.S.,
Tell all the passengers to spend what they wanna,
Taking on water.

Taking on water,
Yes, taking on water.