Steering stem play

After today’s ride ending with a flat tire, I am going to address my steering stem problem. I am able to grab the bars and lift the whole stem, even tie rods, and lift, maybe a quarter inch. The nut at the bottom of the stem is tight, as I checked that first. Possibly bad bushing that is near the middle of the stem? I never looked at that but I am unsure if that bushing holds the bars from moving up and down, as what my problem is. Thanks guys and gals!