Why do I have such sloppy steering?

I do have power steering, is that just the way these cars were back then?
It's like driving a four wheel drive monster truck, you have to move the steering wheel around to keep it on the road.
My friend that has a Ford said that he just simple has a screw on the power steering pump that tightens the steering. Do we have anything that that?
What might cause this??

Thanks!