Lyric discussion by CookieMonsterKid 

I think the guy thinks hes a nobody and fits in with the carnies, like in

"I wanna have a party in the middle of the street Invite all the carnies and the crazy acrobats and bearded ladies and the fire breathers all the people just like me"

And then when he says

"Check your troubles at the door, You don't need them anymore! Leave reality outside, And come along for the ride."

I think he is saying to forget your problems and start over in life, be different.

And FYI Cirque Dans La Rue means Circus on the Street.

BTW LOL at "We're Watching You"

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