The summer of 1984: 32 years after Duane Jackson captained the high school football team and Jacy Farrow was homecoming queen, the small town of Anarene, Texas prepares for its bicentennial. Oil prices are down, banks are failing, and Duane's $12 million in debt. His wife Karla drinks too much, his children are always in trouble, and he tom-cats around with the wives of friends. Jacy's back in town, after a mildly successful acting career, life in Italy, and the death of her son. People assume Duane and Jacy will resume their high school romance. And Sonny is "tired in his mind," causing worries for his safety. Can these friends find equilibrium in middle age?