If you have the blade all the way down, the arbor will actually come into contact with one of the trunions and will cause binding. If there is an adjustment or set screw to stop this from happening I don't know. I can lower the blade below the table, but just don't go much farther and it won't bind.
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Delta Table Saw 34-444
Verify appropriateness of blade for the material and thickness you are cutting, and the condition of the belt driving the blade.