Sounds to me like an air flow meter problem or mixture problem. Pull your spark plugs and see if they are clean and properly gapped. Check a chilton manual for how to read your spark plugs to see if you're running too rich or too lean. I don' t know if you have an air flow meter, but it could be the cause of your problems too. Maybe someone else has some other suggestions.
About your steering... I don't know anything about a bushing, but check your power steering fluid level and the tension on the belt. you should be able to push the belt 1/2 inch at its longest run.
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