91 ford escort, smokey exhaust?

My 91 ford escort GT, started billowing white smoke out of the exhaust, like a hotrods burnout amount of smoke. Pressure on the accelerator only makes it worst. I heard that maybe it is a blown head gasket. Any suggestion on what is causing this embarrassing situation?

Sounds like toast in any event.

The smoke does smell bad, and I do not think it's steam.

Depends on what kind of smoke it is. Blueish/white or just steam. If it stinks bad, it's oil and that isn't good. If it is just steam, that isn't good either, since that would be a head gasket.