Since most of you have submitted your interpretation of olb, I will also:

I think it is about a person who is in a very low place in his life and at the point of giving up (thus six feet from the edge).  The person can't really see a way out of the darkness and needs someone to hold him to keep from falling further or to be a life line so he doesn't give up.  His faith and hope are all he has (I believe there's something left for me. . . for me and you) to keep him from giving up and going over the edge.  After he has come out of the darkness he looks back and analyses his mistakes that brought him to that point.

Just my opinion, no bitching please.

Angela