Bushing for lift axle/suspension systems

A bushing assembly pivotally connects the beams of an auxiliary lift axle/suspension system to a hanger and to an axle seat. The bushing assembly includes a pair of bushings, a metal sleeve, a pin with a threaded end, a pair of washers, and a threaded nut. The pair of bushings are disposed into an opening formed near an end of the beam. Each one of the pair of bushings includes a cylindrical wall comprising an inner end, an outer end, a central opening extending from the inner end to the outer end, an exterior surface, an interior surface, and a flange. The interior surface of the bushings includes at least one generally V-shaped groove formed therein for preventing lubricant from escaping the bushing assembly during operation of the lift axle/suspension system while a sealing feature prevents contaminants from migrating into the bushing assembly.