When was the last time the pump was freshened up? 

If it is only a minor drip, run it and when it gets worse pull it apart and do it right  (p.s.  make sure your bilge pump is working).

When was the last time the pump was freshened up? 

If it is only a minor drip, run it and when it gets worse pull it apart and do it right  (p.s.  make sure your bilge pump is working).

It got rebuilt 80 hours ago I'm not sure on the date of that.. And yeah I put in a new bilge that's got a float so I'm not worried about that

Your rope seal is commonly know as "Packing".

You need to have a slight amount of leakage to lubricate and cool the packing.  If there is no leakage the packing is to tight.

Never add packing to the existing.  You always remove all of the old packing and inspect the shaft.  If the shaft is rough, you need to have that area either turned down or add a sleeve.

Yep! As these guys said, a little drip is ALWAYS good........

As stated, that is packing, and unlike hydraulic packing, it is water lubed. watch a backhoe, trackhoe, bulldozer, skid-steer or bobcat work and wou can wipe a film of hydraulic fluid from the hard chrome hydraulic pistons. Kinda the same thing, but you need a little more "leakage" in this case to keep them cool.

Ray