Based on color I would say cyanobacteria. I think the bubble are a byproduct of it feeding process. I could be wrong. There are many thread to combat this type of stuff so hunt around. Personally I would try:
1. Increasing the flow within the tank.
2. Increase your skimming.
3. Try reducing your lighting photoperiod.
4. Feed less.
5. Manually remove this stuff (via suction, net, etc...).
6. Be diligent on water changes.
Try this for a week or two to see if there is any improvement. There are always those "cure-all" medicatins to try but I believe in getting good maintenance practices in place prior to snake oil treatment.
Good Luck!
--landlord (fellow Kentuckian)