A friend of mine used this expression just the other night while comparing menu items at a noted sports bar.
William Safire discussed "bang for the buck" in his 1968 book, New Language of Politics. Safire stated that U.S. Secretary of Defense Charles Erwin Wilson used the phrase in 1954 to summarize the New Look policy.
The New Look, a 1950s national security policy during the administration of President Dwight D. Eisenhower, was called "more bang for the buck" and "bigger bang for the buck"."More bang for the buck" was also used in the late 1960s by the U.S. military to refer to how it wanted to receive more combat power from the armaments it possessed. The United States, instead of supporting a large regular army, increasingly depended on nuclear weapons to hold the Soviet Union in check.
"Bigger bang for the buck" is similar to the phrase "more bounce to the ounce", an advertising catchphrase used in 1950 by PepsiCo to market its soft drink product Pepsi.
Sometimes the phrase is used to mean "a better value for the money spent"]