To me this song has one of the most powerful meanings out of any song I've heard in quite some time. I saw it as a look into the mind of someone with a lot of anxiety and this anxiety is eating away at the truly great person they are. How you can ignore this anxiety caused by past actions as much as you want, but it'll still be there trying to drag you down shown by the line "there's a monkey on my back". The chorus looks into looking into a bright future "feast your eyes on the big blue sky" and leave these mistakes in the past "and wave bye bye from a long black cadillac". How we need to take chances in life to get anywhere, and through this mistakes will be made "Pay the price, roll those dice".
I feel like the long black Cadillac is reference to a Hearse. So the big blue sky can input the sky's the limit but could also be the final destination if they don't overcome a powerful negative force.