So y'all are right. I went to the local ford dealer to order the bolts and see if they sell the bushings. They don't sell the bushings, only the whole control arm. I decided I'd look for a bushing before I got a whole new arm, but after finding some on rockauto I had to measure the bushing to see what size it is. When I was measuring I noticed that there is a groove that holds the bushing. Getting the old one out wouldn't be too much of a problem, but pressing a new one in would be pretty impossible without something breaking in the process (probably the bushing.
Now I've decided to do the smart thing as wrc_fan suggested and get two new arms. While I'm down there I'm wondering if you think I should replace the coil springs, which look rather worn, or if there is anything else that would probably need to be replaced after a couple hundred thousand miles. Here are some pictures:
Thanks a lot y'all, this forum is proving to be very helpful :)