AC Compressor turning slowly

Ok so i dont think this is normal, the AC compressor wheel (the belt driven one) is turning slowly, say 45 RPM if i guessed roughly. Much slower than the rest of the pulleys. It also squeeks with every revolution The belt is slipping on it since it turns so slowly, is this going to be an issue wiht premature belt wear? Do compresors do this when they fail, or is this somthing else perhaps rust slowing it down that i can clean up.... Im willing to put a smaller belt on it instead of replacing it if that is what it comes to.

1996 2.2L 4 Cyl