Looks to me like someone has put a thick washer under the pivot point (just under the grease zerk).
Other possibility is the pivot point is bent so that the idler is up too high.
Take some purple cleaner and a hose to it so we can better see what you have going on.
Edit: looking over the picture again, I notice that there is a big welded patch to this side if the pivot point, so most likely the alignment of the pivot pin has changed.