I keep my mouth closed and keep my eyes open
Cuz the jail time owe me

from Lil B – Got You One Lyrics on Rap Genius


By the Miranda Warning, when you are arrested you better close your mouth, and that may be what Lil B is refering with this line.
Lil B has served time in jail for drug and weapons charges, and now he says the needs this time back, because prison took it without paying it back.

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