68 GT w/ gas coming out of the carb

Gawd, that could be any number of things! You left out a lot of info. carb manufacturer would be the top of the list. If it's a Holley that would explain a few things ;) How old is the carb?

The easiest route is just to replace it, but you might have someone look at it first to see if it's worth rebuilding. There are a lot more educated guys and gals (nod to SVT Kate) in here than I, so come up with some more data then repost your question.

Sounds like it's time for a carb overhaul...... first thing is to be sure your core is suitable...... No matter what brand of carb, check the clearance where the throttle shaft passes through the carb body. Excessive clearance here can leave you with idle and drivability problems. Holleys also need to have the metering block(s) checked for warp.

In your case, it sounds like the biggest problem is in the needle and seat.... if debris gets in here or for some other reason it can no longer seal, the float bowl will fill up and overflow. Both Motorcraft and Holley carbs are very simple which makes them a snap to overhaul as long as we remember some very basic rules.

Always use a screwdriver that fits the screw head properly..... there's not much more frustrating than cammed out screw slots that wont let you disassemble something.

The main reason for overhauling a carb is not to simply replace gaskets...... there are many tiny passages that become blocked with fine dust that makes it past the air filter as well as gasoline deposits left behind after a hot soak. Neglecting these passages can upset fuel metering badly.

HTH

saturated float or bad needle and seat. Chip

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Yep. Probably no need to replace the whole carb... just change the float, needle and seat. This is a common issue, cheap and easy to repair.

The only other thing that might cause fuel to spill over the bowl is the addition of a high pressure aftermarket fuel pump... some high pressure pumps can force the needle off the seat, etc... a pressure regulator will take care of this. High pressure is not necessary anyway, as long as you have good volume.

First thing I would do would be to tap on the carb around the fuel inlet with a screwdriver handle. Might just be a stuck float.