Why is my power steering gone out and my belts screaming?

there is something seized on it causing the belt to squeal I would remove the belt and try to turn each component by hand to see if everything turns freely and check your p/s level ,if you cant find anything then you probably need a rack...

Sounds like the pump is gone. Cold start the engine and see if the pump is spinning, if not, you're done diagnosing. If it is, after a few seconds turn the engine off and see if the PS pulley is hot, if so, bad pump.