"But You Know I Love You" is a song by Waylon Jennings that portrays the struggle between love and the demanding nature of a traveling lifestyle. The song is about a person constantly on the road, woke up by the morning sun, and with thoughts of their loved one who they have left behind. Despite the broken dreams and challenges they face, they express their deep love for their partner. The lyrics convey a longing for a life where love alone would be enough to sustain them. They believe that they have so much to offer if only love could provide for their needs. It saddens them that monetary concerns and obligations are causing a rift between them and their loved one. The song reminisces about a simpler time when they were free from adult responsibilities, and solutions to life's problems could be found in innocent nursery rhymes. The person yearns to go back to those carefree days and run back to their loved one. However, reality hits, and they acknowledge that they cannot survive solely on dreams. The need to pay rent and make a living forces them to leave their loved one alone. Yet, they affirm that they made the choice to live this traveling life long ago, and it has become the only existence they know. Despite the hardships, they reiterate their unwavering love for their partner. Overall, the song delves into the complexities of love and the sacrifices one must make in pursuit of their dreams and ambitions. It conveys the bittersweet nature of being torn between two desires and the deep affection they hold for their significant other.