The title came from a 1965 Chuck Berry song called "Promised Land." Springsteen admired Berry's songwriting and his ability to relate to an audience.
A theme of this song is a feeling of being powerless: "Blow away the dreams that tear you apart, blow away the dreams that break your heart, blow away the dreams that leave you nothing but lost and broken hearted." When Bruce says he believes in a "promised land," he's almost being sarcastic. Oftentimes reality is different than dreams.
Springsteen had the chorus written long before filling out the lyrics.
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