SRTsFZ6
So the float, at it's highest point (carb in operating position) is too close to float bowl?
 
It obviously should be level the the carb body when inverted (needle closed).  
 
Just to confirm, the float with the needle closed, hangs down too far, correct?
 
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I can't say if the manufacturer designed the float to sit level with the carb body when the needle is closed  but it's over loading the carb with fuel and running rich so yes it needs put more pressure on the needle . 

I can't say if the manufacturer designed the float to sit level with the carb body when the needle is closed  but it's over loading the carb with fuel and running rich so yes it needs put more pressure on the needle . 



That (in bold) IS CORRECT.  The float should be level with the carb body when upside held up side down.
 
Does your needle have a steel or rubber tip?   I suspect it's solid.
 
If it is, your issue is with the needle seat.  Looking down where the needle seats, you'll see the removable 
seat (usually red).  Over time, the seat will expand in thickness and will not seal.
 
The repair is to pull the seat with a dental type pick.  
 
Measure the width of the seat and start searching on E Bay.  
B & S seats are cheap (you get like 10 for $3-$5)..  
 
I can measure my spares if you can post a diameter of yours.  
 
 
Also, once your float is in the ball park and still leaks (even if it doesn't)
I like to clean the needle bore and needle.  Cut off the end of a Q-TIP 
ear cleaner and install in a drill  motor.  Put a very little bit of metal 
cleaner on tip, then run up and down in the bore.  You'll need to do this several times
to get it in brand new condition.  You should also run a Q tip gently over the needle
to also clean up.
 
I've saved several carbs, just by doing this cleaning allowing the carb to seal fully-
The float does still need to be very close to the proper setting.
 
 
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Also, with the new seat installed, it will allow / put the float back to where it should be.
 
 
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