"Your command line PHP installation is too old" But it's not? I was trying to install Drush version 7.x-5.9 when it gave me the following error (whenever I try to use the drush command):

Your command line PHP installation is too old. Drush requires at     [error]
least PHP 5.3.0. To suppress this check, set the environment variable
DRUSH_NO_MIN_PHP=1

My HostMonster Info:
Apache version  2.2.26
PHP version 5.4.24
MySQL version   5.5.35-log

I've reverted back to version 7.x-5.4 of Drush and the command line is working but I would like to use the newest version if possible.
The command line version of php (CLI) and the one used by your webserver (reported by hostmonster info) are not necessarily the same. Run php -v in a terminal to see which php command line version is installed.