Springsteen: "The exciting story of my own personal life."
Springsteen wrote this from the viewpoint of him as a child. He would often introduce this by sharing various childhood memories.
Recorded as a demo by Springsteen on a 4-track tape recorder in his house. After trying it with the band, he decided this and the other songs that would make up Nebraska sounded best as he originally recorded them.
Ani DiFranco covered this in 2000 on Badlands, a tribute album of songs from the album Nebraska.