Oddly enough, as a kid who was in high school during the Columbine massacre and when "White America" came out, I've always for some reason assumed Eric was a reference to Eric Harris, who was blond, blue-eyed, and babyfaced. Though in googling them now, there's really nothing explicit in the lyrics to suggest this at all (maybe that was just the face associated with the name Eric for me at the time?). But it always added/adds an extra bite to the song for me.