Ok... so I bled my brakes after putting new rubber hoses on the front, now my brakes don't drag. Problem is, now I have a soft pedal when I come to a stop, and if I hear a 'Whoosh' sound, along with the pedal going further down.

If the truck isn't running, the pedal will stay firm. I have checked for leaks, and there are none. I have the MC full of fluid, and never let it get down while bleeding.

So.. am I looking at more major problems like a MC or even a brake booster?

 

Where it was fine before it should be even better now. I would suggest you have air in the line somewhere. Did you bleed the proportioning valve and rear brakes?

 

No on the rear brakes, and I have no clue as to what a proportioning valve even is.
I do know I need pads and rotors on the front..but the parts cost money, and my wallet is thin until payday.