pop the hood and fire it up. find the screech. if it goes away, drive the jeep.
i'm guessing you have a siezed idler pulley and thats why it stinks and is squeeling. watch all your pulleys on the engine. if one is not moving, or is wobbly, or grinding,et you know.
to test your belt tension, press on the belt. you should not get more than 1/2" of movement.