Sterring pump is cavitating and expanding the fluid

I suspect that your pump needs replacing. The pulley would only break if the pump is requiring more force to be turned. This would also explain why you have no power steering.

If you replaced the rack and pinion, it takes about a quart. To purge the air out, Fill the reservoir to the top of the pump, unplug the coil pack. Crank the engine and turn the wheel left and right. Watch the reservoir so you don't make it over flow, The fluid will rise and fall as you turn it. Turn it about 10 times, check and refill the same. Do it again. Two times usually purges the air, three times always purges the air. Plug the coils up, start the car. turn the wheel all the way left and right, check fluid. Should be ready to go.

Your water pump has broken down the seal has worn and let the water out seizing up pully the squeling noise is drive belt sliping as engin trys to turn pump replacement soon as,..... if u use it u will blow engine up

I can't say for sure but it could be the tensioner pully. I don't think you should be able to move it side to side. That would indicate that the bearing is worn.

The most common problem with noisy power steering (whining noise) is that the power steering pump is defective. If you replace the pump make sure you flush the system with clean PS fluid or it can ruin the new pump.

The lost acceleration is of major concern. Maybe you have lost your water pump. It would work great for a few miles when you start out and then gradually heat up and loose performance. The fluid would eventually boil over? Maybe a bearing on the camshaft is expressing it's discontent and causing extra load for the engine to overcome. Try to determine where the noise is coming from.
The serpentine belt connects the alternator, water pump, power steering, front timing pulley, fan, and front timing pulley. All these components generate a parasitic load on your engine. If the engine has to work harder because of increased load it could be any of these components. I'd definitely check the water pump listening for noise while running. Look for obvious things related to the belt and its' components.
Check the serpentine belt for wear. May indicate pulley misalignment or wear. There exists two idler pulleys that have small bearings that wear out and squealing noises. Check those for wobble with the tension off the belt. They are pretty cheap so replace them if any concern at all.
Power steering pumps cavitate and make a high pitch gear whining sound if fluids are low or gears warn of. Check the fluid and top off to the correct level.
Best wishes,
TF

Bad power steering pump seal. Doubt can be fixed without replacing the entire pump.

Sounds like a steering pump or steering gear problem. Remove Power sterring pump cap while engine is running and see if fluid is moving. GM's are bad about PS pump shafts breaking. If no fluid movement, Replace pS pump

Use a degreaser to clean the pump and hoses, then start the engine and you should then be able to see exactly what is leaking to then determine what to replace.
I hope this helps and good luck.

Either the check valve within the pump or the pump itself has failed or the steering rack has gone bad