why am i foaming?

could be a bad keg. let a glass settle then taste it. that is the first thing to determine.

could be a bad regulator. they do fail, and it is usually easier to replace with a quality regulator then to screw around trying to fix it.

check your beer temp. compressors wear out. thermostats break. or get changed. make sure the temp of your beer is 38 degrees or very nearly.

clean your lines and faucet.

sometimes its a mystery. if any leg of the stool needs fixing you'll have foamy beer.
Cheers.

 

Adjusting the regulator is not a quick fix. If the beer is overcarbed and you turn the pressure down to, say, 2 psi, it will still be overcarbed - it will just pour more slowly. It needs a few days of bleeding the excess pressure before it equilibrates to the lower pressure (unfortunately, at that point, it will likely be undercarbed).

As billandsuz said, you need to find out which leg or the stool is broken and fix it (I love that metaphor). If I was a gambling man, my money would be on a faulty regulator. Or maybe just the gauge.

 

The more beer I buy in sixtels, the more I realize each keg comes from the brewery at different carbonation levels. I've had beers pour perfectly right from the start and I've had beers foam on a new keg for 2 weeks (don't bother to bleed of excess carbonation too much, I just live with it until my consumption eventually calms it down). I never touch my C02 levels on my regulator, and everything else stays equal, so it's not my setup. I think each brewery and each keg is different. Try bleeding off some carbonation and replacing it with your standard pressure (10-12 or whatever) a few times and see how that works.