Part 2
Deacon Blues - Steely Dan
A Lyric Analysis

"You call me a fool
You say it's a crazy scheme
This one's for real
I already bought the dream."
Either his conscience is presenting a counter argument to his new choice, or some friend or family member has tried to talk him out of the new destructive lifestyle. Either way, he can't be talked out of it. He has made his choice. It is final.

"So useless to ask me why
Throw a kiss and say goodbye
I'll make it this time
I'm ready to cross that fine line."
He admits either that he doesn't have a good reason to be a drunken gambler or that he just can't be talked out of it. Either way, he implies in the song that he has dabbled in the activity before, but this time, it is a complete lifestyle choice. He will not just play in that world anymore. That world will OWN him now.