First impressions.....you got a couple of lines, thought, "hmm, that could make a song...." - and got it written as quickly as you could. I always start with a 12-bar blues in mind when you post lyrics, John - and this works pretty much perfectly there. Just needs a little tidying up and a couple of typos correcting....
"Ran up a tab at the my favorite bar"....lose the word "the."
"So what is a man like me suppose to".....add the word "do" at the end.
"Waste more time on someone like you"....not someone LIKE you, but you....the subject of the song. maybe "Waste more of my precious time on you" would work better.
Minor quibbles, though....now get recording!
"Sometimes the beauty of music can help us all find strength to deal with all the curves life can throw us." (D. Hodge.)