The song is about divorce or conflict in marriage. The narrator is singing about how they go to stay with their friend (the second arrangement) when their marriage (the first arrangement) isn’t going well.
[Verse 1]
Pour out the wine, little girl
I've got just two friends in this whole wide world
Here's to reckless lovers
We all need somebody
[Verse 2]
Stashed in the yellow Jag
I've got my life and laundry in a Gladstone bag
You should know the program
Just one red rose and a tender goodbye (one last goodbye)
[Chorus]
And I run to the second arrangement
It's only the natural thing
Le roué steps out with no regrets
A sparkling conscience
A new address
When I run to the second arrangement
The home of a mutual friend
Now's the time to redefine the first arrangement again
[Bridge]
It's a sticky situation
A serious affair
I must explain it to you somehow
Right now I'll just move back one square
[Verse 3]
Here comes that noise again
Another scrambled message from my last best friend
Something I can dance to
A song with tears in it
[Verse 4]
Old friends abandon me
It's just the routine politics of jealousy
Someday we'll remember
That one red rose and one last goodbye, one last goodbye
[Chorus]
Then I run to the second arrangement
It's only the natural thing
Le roué steps out with no regrets
A sparkling conscience
A new address
When I run to the second arrangement
The home of a mutual friend
Now's the time to redefine the first arrangement again
The Second Arrangement was written by Donald Fagen & Walter Becker.