Loose Ignition Switch Or Bad Lock Cylinder??

The reverse lights and turn signals keep cutting out on me. If I wiggle the key and make sure its pushed all the way forward they come back on. Is this an issue with the lock cylinder or the igniton switch? It kinda feels like the springing action is wearing out. I hear this is common in these cars. Thanks fellas.
 
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Most likely the ignition switch. Ford had a TSB and recall on them back in the day. A very common problem- 20 dollar part that is made of pot metal and plastic that is known to fail and cause all kinds of problems. Fairly easy to replace- only special tool is a torx bit which I can't remember the size.
 
It's fairly easy to replace. I did mine with the lock cylinder at the same time. Took maybe 30 minutes total. Just get the proper Torx bit. Some install directions have you trying to drill out the screws holding it to the steering column. That would be stupid. The torx bit cost me less than $10 with 6 other bits and a 1/4" drive adapter. It's a T-25 I believe.
 
I replaced it tonight. Not too difficult. The switch was totally seperated. Stupid POS. Everything seems ok now. It was a security torx 27. The only thing besides the reverse lights and turning signals not working was the cruise control went out. No idea if that is fixed yet, I'll try it tomorrow. Drilling out the screws was totally unnecessary. I got a security/tamperproof T27 from Lowes for $5.
 
I replaced it tonight. Not too difficult. The switch was totally seperated. Stupid POS. Everything seems ok now. It was a security torx 27. The only thing besides the reverse lights and turning signals not working was the cruise control went out. No idea if that is fixed yet, I'll try it tomorrow. Drilling out the screws was totally unnecessary. I got a security/tamperproof T27 from Lowes for $5.
Those have cause fires too, nice save!!