does a I/O have a thermostat

[roffey]

I am going to check all that you people have suggested. for sure. The last time I was out on the boat the temp did go down to normal so I thought something might have been stuck.
So I took the boat out for a big cruse on Saturday, what I noticed was if I pin the boat it will run hot, very hot like 200-220. If I cruse it runs 160-180. Do you think it could be the water is running through the motor to fast and does not have time to cool it? Maybe no t-stat or a stuck open t-stat?
Just running ideas by you people as sit here at my desk, looking at my computer, working, looking at the sun thinking I could be on the water or working on my boat….
As I said I am going to check all you said...