Not really, it was about "people just continue on and are happy with what they earn". I've read him state it himself, it doesn't matter even how Mellencamp himself tries to revise history, because it's en vogue.
This line encapsulates it all "and there's winners, and there's losers, but that aint no big deal. Cause the simple man, baby, pays for thrills, the bills, the pills that kill."
Springsteen pulled the same B.S with Born in the U.S.A. At the time he heralded it quite differently than he does years later. Like a painter who cuts his own ear off because he wants to be defiant and different, these guys lose their character. Look at Neil Young, yeah a real rebel, he is protesting what exactly? Free Speech? Then he comes whimpering back.
Wake up America. Fix things. Dont just break something different.