My blower motor has been extremely loud. I dismissed it as the motor going and was waiting until it quit to buy a new one. That was two months ago. When I pull the squirrel cage assembly party out the sounds goes away. And as soon as I cut the power to the motor the sound stops( while the blades are still free spinning) any ideas?

Some squirrel cage blowers have a front support bearing and if that wears, the cage hits the enclosure. It could also be the thrust washer on the motor, if the noise stops when the power is disconnected or the cage pulled out as you note. I would probably "massage" the cage housing a bit, but if there is much more than a couple thousandths play on the cage, I bet the thrust washer is gone.