Re: When I squeeze my ball, should fuel be coming out the throat of the carb?
Fuel is accumulated in the bottom portion of the carburetor known as the carburetor bowl. When the fuel level in the bowl starts to fill up, there is a float in the carburetor that pushes a fuel pin(float needle) up and prevent fuel choking or flooding out the motor. If that float needle is worn or coated with junk then it can not seat or seal properly so the gas over flows or leaks out.
Also the float, if it is the original, could be damaged from ethanol(shellac is removed), water logged so to speak with fuel and does not provide the floatation needed to lift the float needle up to seal off from more gas entering and flooding out the motor or cause leaking.
So, long story short, Daviet is right when he states that you need to investigate your carburetor and get a new carburetor kit with a new modern ethanol resistant float.
Here is a picture of a carburetor float, float needle and hair pin. The portion of the carburetor is up side down to evaluate the level of the float and hinge. But normally that portion of the carburetor is the flip around with the float sitting in the carburetor bowl and as the fuel fills the bowl then the float lifts up and causes the float needle to seal and seal off more fuel from choking out the motor during idle or leaking when not being consumed at wot.