If you still have the stock clutch quadrant, make sure that the ratchet mechanism isn't stuck or broken. Some people put in new clutches but forget to reset the ratchet. As a clutch wears out, the cable gets tighter and tighter (releases farther and farther away from the floor). The stock quadrant is self adjusting and should loosen automatically. If a new clutch is put in, however, the cable will then be real loose again since the quadrant has given all the slack it can.
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351W 89 Mustang GT Convertible