Thread: Loose redundant belt?

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Hey guys, just a quick question on belt tightness. My power steering pulley was squealing so I went to put more tension on it, but there was no more travel left. So I decided I'd get a shorter belt and that did the trick. However, I bought a second belt, because there was a second slot on the pulley (because I removed my a/c compressor). I added the second belt to both give the power steering pulley a little more bite and also give me a back up belt in case one failed on the road. I got the same sizes, but one looked like it had been sitting on the shelf for a while. Well the second belt (on the outside, away from the pump) is really loose. A little too loose for comfort. It sits in the groove just fine, but there's a lot of play in it when I push it down. I read online that when I push my thumb on it, it should move 3/4" max. The second belt moves a tiny bit over an inch downwards when I push on it. The steering no longer squeals, but my main question is wondering whether this loose belt is a threat even though it's redundant?