Hanging on a Subway is about an aspiring songwriter who moves to New York with the dream of making it big, but instead ends up struggling to make ends meet, living on the streets, and relying on scraps to survive. Despite the difficulties, he perseveres and holds on to his passion for music, with the hope that things will get better. The song explores themes of disappointment, resilience, and the high cost of chasing one's ambitions, with the 'subway' serving as a symbol of being suspended between this dream of a lifetime, and the harsh reality it's become.