I "don't get it" either, and I play EUIII, HOI, and CK2. But Vicky is just leaving me non-plussed.
I did something similar:
* Started with Uruguay.
* Couldn't even afford the 9k troops they started me with; disbanded the entire army and turned military slider to 0 to save money. (Still couldn't balance the budget)
* Cranked every tax slider to 100%. Still didn't balance budget.
* Increased tariffs to 15%. Finally balanced budget.
* Can't really do anything for the longest while. Focused on imcreasing my prestige, because, stupidly, the global trade balance is determined by who wants to sell to you, and a high prestige gets offers first. Also focused on increasing research points. That works alright. I start climbing to a literacy rate of 15% over decades.
* After a decade or so, finally built a cement factory. It promptly begins losing money hand-over-fist.
* Subsidize it and focused on generating crafters. No one is selling me coal, so it continues to be idle and loses money. Even when I finally manually do a trade and score a large deposit of coal, the factory only makes money for a short time, and then it runs out of supplies and becomes a loss-leader in the budget again.
* A revolution usually hits about the 1860s - 1880s, which prevents further factories from opening up, and will shut down the only one you were able to afford to open.
* Why not do anything about the rebellion? Because your ability to create new regiments apparently is killed -- I can make 0/0 regiments. Nice.
If you wanted to create a basket-case economy, you succeeded. There's no way to have any reasonable slider settings at the game's beginning and stay afloat. The 9,000 troops are a "phantom division" that shouldn't even exist over time.
There were a few times when I was able to start to create multiple factories, but even then, it'd eventually get ruined when the revolution hit.
I also seem to be "stuck" most of the time with a Reactionary government that always pegs at 100% Reactionist. Even if I start getting Conservatives or Liberals or other parties in there, at the end of the year, it resets to 100% Reactionist.
I only had one semi-successful game, where I was able to make 8 factories. But two of them were always stuck as unprofitable. I was able to have a Liberal-led revolution, but that seemed more accidental than me doing anything.
Are we all just supposed to feel beholden to or like victims of the random event system for a game to work out?
It felt like me watching a century-long fishbowl, rather than leading a country in strategic decision-making.