I'm reading into the song, but there's a lot of room for that. To me, it's about the goverment's secrets, power, and lying to people. It was written during the VietNam war, I believe.

I seem to remember we had a "five year plan" as well, that replaced, or was replaced by the "New Deal." Can't remember too much of my US history.

"Caught up in the fable" could mean that he belived things would change. I think the second verse was about Woodstock. He could have believed that that sort of a feeling and community would grow and change things for the better. To me, the "tower" is an ivory tower - the government becomes more mighty and prosperous, and rises above the people. The "golden chains" - red tape? Plans thwarted by wealthy and\or powerful people who don't want things to change?