Anyone help on how to adjust the TV Linkage cable at the throttle body on a 93 stang 2.3cyl?

Should it have slack in the cable when the throttle is closed? Mine has about 1/2 to 3/4 inches of slack at an idle.
My tranny has trouble shifting out of 1st, if i let off the gas it will shift or more like slip into 2nd gear, also it doesn't seem to downshift when decelarating. Someone maybe the TV linkage could be the problem??

Thanks