You're talking about the bushing in the aileron bell crank?. First, make sure there aren't any burrs on the ends of the bushing that create interference. Lightly use your deburring tool to remove them if there.
Secondly, I would ream the bushing out to 3/16" Those bushings aren't a perfect fit right out of the box. Once you have the bushing reamed out, the bolt ought to fit perfectly.