On the live album “Who’s Got the 10 & ½”, Henry Rollins states that this song is about “killing yourself to live”. From this and the lyrics we can infer that the subject of this song is living a self destructive lifestyle consisting of sex, drugs and partying on a daily basis.
The lyrics suggest that the subject is truly dissatisfied with this lifestyle, though is stuck in a cycle of intoxication, regret, and subsequent further intoxication.