Before you remove any metal, check the shaft and run a file over each end of it. They tend to get burred up around the flats and keyway where the pulleys and retainer mount. (Or where someone hammered teh shaft to get it out.)
That done, will the shaft go through one bearing but not the other? If so, you have a bent H frame, a common occurrence due to the flimsy Mazak material and the awkward Mickey-Mouse belt adjustment screws that often result in only one getting adjusted and twisting the H frame.
My son and I straightened ours by holding it in the vice and putting a three-foot length of 3/4" bright steel bar through one bearing and bending the H into position until the bar would pass through the second bushing.
Of course, if the bushings have closed up in press fitting you will need a reamer to open them up. No way round it really. You can't (or rather, shouldn't) use a brake cylinder hone or emery tape flapper on a stick in the electric drill to open it out as the abrasive particles might get stuck in the sintered bronze, or the sintered bronze may get smeared.
If you get absolutely stuck, you could possibly take the bushings out, bore them out a couple of thou with a sharp tool, then reinstall them. This would by last ditch desperation though.
Edited By Hopper on 08/03/2018 02:05:20
Edited By Hopper on 08/03/2018 02:06:03