The deeper meaning of the verse is that she has sold off the things she needs to make her living in order to protect the Daddy who has left them.

The more things change... at least one British soldier has died in Iraq, after the body armor he was issued was taken away & given to someone else (BBC News story here). I see serious opporunities for an update here – maybe something along the lines of:

I'll sell my car, computer too
Buy my love some body armour new
And then the government I'll sue...