55 1st,
You have a "wallowed out" spindle. This is quite common and is not easily remedied.
1. Find a new or better spindle - good luck.
2. Knurl the outer surface of the spindle bushings and the press the bushings into the spindles - unless you are real lucky, this fix does not last long.
3. A year or two ago, someone posted an excellent procedure for using over-sized outer-diameter (from a larger truck)bushings, machining the bushing seats in the spindles, pressing the bushings into the spindles, and then reaming the bushings to the size of the standard king pin.
I cannot find this discussion in a search of the forum. Also, I recall that the discussion did not have information (part numbers) for the replacement bushings.
I bet that over 75% of people that own a 47.5-55.5 1/2 ton Chevy (and GMC?) truck have this problem.
Good luck,
Tim