Help me! (Yet another "identify this song by some lyrics")

A friend of mine is trying to place these lyrics - can you help??

The internet was no help. My friend thinks it’s from the 60s or 70s.

Ugh! I have definitly heard this song before. I can’t find it either. If you find the answer, please post it or I’ll go insane.

Well… that’ll make at least three of us in the asylum then. (rueful smile)

All I could come up with is a bluegrass gospel song by a Carl Story. Does this help any? Is it bluegrass?

I don’t know. I’ll try to find out.