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Wishing on a star, that's just a satellite.
Driving in a car with broken tail-lights.
Growing up with eyes glued shut
The singer is talking about wishing on a light in the sky, which they think is a star, but it's just a satellite. The car they drove was broken, everything they thought was good was somehow damaged in a way, but they couldn't see it. They grew up with "eyes glued shut" meaning the true horrors of the world were shielded from them as they grew up, the satellites were stars, the cars didn't have a problem. They could look at everything and be full of wonder, instead of the cold, hard, realism that comes with being "grown up".