Don't hit me, but are you positive you've got it threaded correctly? I know that's usually my problem when the machine appears not to be running correctly.
If you're sure it's threaded correctly, another thing that has given me problems before is the tension setting. Just make VERY gradual adjustments in the tension setting and see if things improve. If they don't, reset the tension to its original position.
Something else, is there anything different about the fabric you're using now versus what you've used before? If so, you may want to try a different size needle.
Just some thoughts. Hope they help.