From Our Forum:
The song was originally an album track on their fourth album, PISCES, AQUARIUS, CAPRICORN and JONES, LTD. (Davey and Mike shared the same Christmas day birthday, so they couln't use the same sign twice). The single from the album was supposed to be Mike's 'Love Is Only Sleeping,' with Davey doing John Stewart's 'Daydream Believer' on the f/s. But a test pressing failed, they were becoming concerned about the title of Mike's song being misconstrued about 'sleeping together,' and the more they listened to it, the more they thought 'Daydream Believer' was an A-side. So 'Sleeping' was relegated to the album, and 'Goin' Down' was pulled off the album for the b-side of 'Daydream Believer.'
The lyrics for 'Goin' Down' were written by a young woman Peter was seeing, Diane Hildebrand. The Monkees took credit for the music on the track." -- Jack the Beatlegeezer
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