PLEASE HELP...PS and AC belt problem
 

I just replaced my PS and AC belt. Everything was fine until I noticed a rythmic squeaking sound. I opened the hood and noticed that the belt had been pushed to the outer edge of the PS pump pulley and the outer edge of the belt started shredding. I noticed some small cracks but nothing close to the teeth of the belt.

I turned on the engine and noticed that the pulley was wobbling. So I readjusted the belt to sit properly on the pulley by loosening it up and turning the pulley while pushing the belt back to the center of the pulley.

I tightened everything back up and started the engine again. Next thing I know the belt was sitting on the outer edge of the pulley again. ??? I assume that the wobbling of the pulley is causing the belt to slide but I don't know what would cause my pulley to not turn properly.

Here are my thoughts:

1) The bearing inside the PS pump pulley is worn out

2) The belt is not tight enough (but this shouldn't cause
the pulley to wobble)

3) I need a new belt

Any thoughts or ideas as to why this problem has occurred is greatly appreciated.

THANKS IN ADVANCE!...=)

did you ever figure this out? i'm having the same problem with the p/s belt coming off.