If it starts and runs fine, the first thing I would do is to check if the throttle cable sleeve has slipped where it connects to the carb. I have seen a few of these tractors where the cable was not tightened well enough and it slipped.
I don't have a picture of your actual motor. But here is a picture of the clip that holds your throttle cable tight.
Follow the cable from the handle on your dash down to the motor. Find this clip on the side of the motor. Now: Move the throttle back and forth until you see how the cable moves the throttle mechanism. Does the cable extend to give the engine full throttle or shorten?
You want to move the cable so it gives the engine more throttle. I personally do this with the engine running but don't do this yourself unless you are comfortable doing so. So loosen the bolt and move it only about 1/8 inch at a time.
If you don't feel comfortable doing this call 1-800-4MY-HOME and have a Sears tech come out and work on it.
Let me know if you have any more questions.
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