Hmm... something is wrong for sure. however, as others have pointed out, you need a concrete double check to get pointed in the right direction. Obviously, first, double check with some other type of boost gauge that there really is a problem, using a different tap-in point to elinimate the possibility of a vacuum leak issue on the Split-Sec, fittings, or anything associated.
After that, belt slippage would be the most common and easiest issue to check. Look for a polished belt, "VORTECH" lettering being burned off in a hurry, missing ribs, belt dust/shreds, bad tensioner/loose belt, etc. Something may be installed incorrectly, cant hurt to double check. Measure the pulleys, it is not impossible that something was built incorrectly.
If the belt checks out and slippage is not apparent, dig a little deeper. The next most likely causes would be some type of restriction/leak, either upsteam or downstream of the blower. Check everything, the intercooler would be especially suspect. If it has a damaged/plugged core inside, it could certainly cause this. The next suspect would be the Blow Off Valve- stuck open or connected/adjusted incorrecty?
After all the outer causes are ruled out, you have to look at the internal issues. Loose blower compressor wheel? damaged blower drive? Hub slipping on crank? Missing key on the blower pulley? There has to be a reason, and it is likely a very simple one.