Well this is a good example if you get a cheap tool...
You will have to spend more time and energy to fix it instead of use it!!
Steps like this : Take off the original wedge make a new thicker and bigger one , scrub and sand off the dirt inside of the hole, hammering the wedge back and check the angle , final step can soak it into water fasten the joint..
Anyway it's a good chance to learn how to adjust and fix tools, even you have good quality tools it always need to repair them and make them handy :)