Scala, 613 bytes
print(("""We'r%e %n&o &strangers9 t&9lo#ve#4
You47 know7 [th[%rules0 aZndZ 0s&d&I
A full commitment's what1 I'm 1[ink=ing= of4 wouldn't get [is from any! o[er !guy>
I just wanna <tell<]- ]you-3 how1feel=
3Gotta _make]_uZerstaZ@>
.
Ne#r$./$ gonna /g2i#]up2$let]down$run arouZ0desert-$_cry$say goodbye$< a lie0hurt-@?
We'#7n each!for s&long4r hear;t's been ;ach= but4:'r%to&:shy9say8 it
8Insid%w%bo[7 wha;going on
We7 [%game0we're/play8?AZ if]ask me3Don't < me-:bliZ9see@@
5(Ooh, g2)
556(Ooh)$gi#, ne#r/gi#^
6(G2)^^?>@@
"""/:("!#$%&Z[]^_"++('-'to'@'))){(x,c)=>val y=x.split(c);y(0)+y(1)+y.drop(2).mkString(y(1))}
This is a text decompression algorithm, recursively applying the rule that ~stuff~ blah ~ ~ should be converted to stuff blah stuff stuff (i.e. the first time you see an unfamiliar symbol pair, it delimits what to copy; thereafter, you fill in the value when you see it).
Note: there may be an extra carriage return at the end, depending on how you count. If this is not permissible, you can drop the last one on the quote (saving one character) and change the split to split(" ",-1) (spending 3 characters), for 615 bytes.
