I’ve seen the needle and the damage done: a little part of it in everyone. But every junkie’s* like a settin’ sun.

* “junkie” originally refers to a drug addict, particularly one addicted to heroin, seeing as “junk” is slang term for heroin [source]. However, as the term developed in society, it has also evolved to refer to an enthusiasm for anything (such as a “book junkie” being obsessed with books.)

I caught you knockin’ at my cellar door: I love you, baby, can I have some more? Ooh, ooh, the damage done.

I hit the city and I lost my band: I watched the needle take another man. Gone, gone, the damage done.

I sing the song because I love the man! I know that some of you don’t understand [how you need to] milk-blood* to keep from running out.

* “milk-blood” most likely refers to the act of extracting heroin-laden blood, for reinjection at a later time. It usually is one’s own blood, but could also be the blood of someone who has just overdosed. It is done as “insurance” in case one’s heroin supply runs out. [source]

In the mountains [and] in the cities, you can see the dream. Look around you: has it found you? Is it what it seems?

There’s a world you’re living in: no one else has your part. All God’s children in the wind: take it in and blow hard.

We are leaving, we are gone: come with us to all alone.  Never worry, never moan: we will leave you all alone.

Lullabies, look in your eyes; run around the same old town. Does it mean that much to me to mean that much to you?

I’ve been first and last: look at how the time goes past.

Love lost, such a cost: give me things that don’t get lost, like a coin that won’t get tossed [while] rolling home to you.

[...]

But [now] I’m all alone at last, rolling home to you.

Old man, look at my life: twenty-four and there’s so much more. Live alone in a paradise, that makes me think of two.

Old man, take a look at my life: I’m a lot like you; I need someone to love me the whole day through. Ah, one look in my eyes and you can tell that’s true.