1993 Mercury Tracer smoke and power

alright two questions i just noticed today that when my car is sitting and on for a few minutes and then i press on the gas pedal blue smoke comes out of the tail pipe. If i immediately do this again little or no blue smoke comes out. And when i am traveling at about 55-60 miles per hour and try to accelerate the car does nothing even if i push the pedal to the floor. The car just decelerates and after i stop i can accelerate again. Havent talked to a mechanic yet just thought i would ask here first

Any suggestions would help