Idler Arm Removal - Am I missing something??

In process of disassembly of the front suspension for a rebuild on my 76 Scamp w/ 225... I've got everything off the passenger side except the idler arm. The bolt won't go up high enough to let the idler arm out before hitting the engine...

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Am I missing something obvious? At this point, it seems like my choices are:
1. To loosen the motor mount bolts and jack it up high enough to get the bolt free (seems ridiculous and not desirable)
2. Cut off the bottom end of the bolt so it gets short enough to remove, and then insert my new bolt from the bottom (seems like a bad idea because if the nut came loose and gravity)

Ideas?