@ largeham
If we're talking about saving money on the military (which I am), than any liberal worth his salt will listen. Sorry if I implied that ALL liberals are idiots when it comes to military matters. (a lot are, although there are a handful of exceptions, like John Kerry)
AK-47s are sufficiently accurate at close and medium ranges. Combined with superb power, reliability, and low production/ammunition costs, AK-47 is a great choice for armies on a tight budget for both training and equipment.
As for suppressing fire, it would be more economical, and would make more sense, to deploy an M240 team to each squad. Leave the suppressing fire for weapons designed to do just that.
An added bonus of switching back to 7.62: You could make ordinance a lot simpler. It's a lot easier to stock two types of ammunition than it is to stock three types. Right now, machine guns and sniper rifles use 7.62. Our main weapon system (M16) uses 5.56. And, of course, 9 millimeter for the pistols and submachine guns. But what if we could eliminate 5.56 in general? Wouldn't it be great if the military had one common rifle round again? Sharing ammo is a good thing. Liberals love sharing.