This tune is about being kept "on the hook" as someone promises you something that never seems to come to pass...in other words, they are not 'walking their talk'.
Story behind the song
Someone I knew was in a job where their knowledge and experience was being used by the boss, and promotions/recognition/etc were constantly promised as a way to keep the commitment coming. In the end, the recognition never came...because the boss simply 'changed his mind'.