It's true that the player's economy has been seriously hobbled in the last few updates. It has been an adjustment for everyone. Your case sounds pretty serious; help us out with some more details, Mongius. Such as:
What difficulty level are you playing?
What are your race ability scores for morale and economics?
Have you bought improvements or starships on installment? If you contract to Mitrosoft to build everything, for instance, you will be paying off that debt every turn for a long time.
What population levels do your fully developed planets have?
What is your average approval rating? If you're trying to keep approval at 100% for a long period of time in the early game, for instance, your income will suffer greatly.
Do you have any specialized econ planets, or are you developing all of your planets in a 'balanced' fashion?
There are other factors, but these are the most important ones I could think of.
Edit: Iztoc's right - factories are a better buy. I tend to leave social production at about 20% and use rush buy to fill my home world with basic factories - or to build six factories if I start with that tech. Once you have that, colony ships and whatever else you need will roll out every few turns (usually three turns for me because I like to keep up my research even during the colony rush).

Spore. When you absolutely, positively got to kill every motherfrakker in the galaxy. Accept no substitutes.