Re: 55hp Chrysler... Have a thermostat??
The motor has a thermostat on the rear of the motor. Should be towards the top of the powerhead. If you remove it you will probably need a new gasket as well as the thermostat and the grommet. Parts 81,82 and 83 on this
link <br /><br />Other spots could be the water tube is not in the proper spot going up to the powerhead. There is a rubber grommet it connects to. Another thing could be the key that the impeller sits on fell off the drive shaft. Or the pump itself could be shot.