Why does engine surge, sputter, then shut down. ?

Motor has new cam, oil slinger, and head. Carb is clean and rebuilt. I also replaced fuel cock, fuel line, and filter. Fuel flows good to the carb. Engine starts but surges and eventually sputters and shuts down. I noticed that the fuel filter will not fill with gas. I have checked the valve clearance on the intake and exhaust. I am stumped.

Scott B
August 2012