Hello Carrie,
I hope I can help relieve some of your distress. I have had years of experiences with dreams and have learnt that there is more than one type of dream. The types of dreams we have depend greatly on who we are and the conditions our environment present to us.
Do you live near the beach? Did you hear or see anything to do with drowning the previous day or week which your subconscious could have returned to you in this form? Is there an issue with your child which is overwhelming you to the extent that you feel as if you are drowning in worry?
Sometimes the object of attention in our dreams is a representation of our selves. Could there be something happening in your life which you are concerned about that you may have forgotten about or is there someone in your life placing too much responsibility on you and this is making you feel as if you are drowning?
The white sweater represents innocence which if you think about it makes sense given that a baby is wearing it. The blue colour may represent depression or simply a representation of what happens during a drowning.
Contact me personally at shbromley@yahoo.com.au if I can help further with advice on this area. I will get back to you as soon as possible. I use a public library so this could be as as two weeks.
Dont worry too much and take it easy, everything will be finw if you keep a cool head.
All the best.