Run "Repair Database". Instructions are on this Apple Support Page. Do not interrupt the repair. It may take several hours (but usually less than that). As with all data manipulation, never do anything without full, verified back-ups.
Confirm that you have enough RAM (how much?), and enough free space on your system drive (at least 10% free -- I aim for 20% and _never_ allow myself to dip below 10%).
Others should pop in with some other suggestions. It's not uncommon to have some system and software troubles. I wouldn't put money on iPhoto running much better (but it might).
Thanks Kirby, I did the repair. It was still doing it but I think from the update it needed to process all my photos individually and the circling was just a very very long processing of each folder. I click on each to process folders individually and went back to each folder and it seems to have corrected itself. Perhaps the repair added to that fix. Insofar as your 2nd paragraph and RAM, not allowing yourself to dip, how do you prevent this?
I used to live in Doylestown, PA and moved 1.5 yrs ago to west coast, miss PA. Thanks for answering!!!!