Steve is singing about wanting to be with a person badly. Confusing his lust with love and trusting the feeling believing it will make him happy. In the end he realizes it was meaningless and instead of wanting to be with this person incessantly he would rather backup out of there because the feeling of love/lust isn’t there anymore because he got what he didn’t realize he actually wanted- the sex.

The song’s title is a play on the phrase, “In God We Trust.”