I've heard the song for decades, but I've never been completely able to interpret it.
The lines near the beginning, about "Stroll around the grounds" and "All you see around you are sympathetic eyes" and so forth: is she in or has been in a mental institution (a high-end one for sure)?
"Put it in your pantry with the cupcakes" and "And most of all you you have to hide it from the kids" and all that: I actually considered once that it's about a abortion she once had, but that doesn't seem likely. Is it a reference to the Ben Braddock plot in the movie itself? Or is it about her own attitudes and feelings which she can't reveal?

