Anything a blanket is capable of it is and more. Like those blanket sock things you see on the infomercials. You could put it on and it would be like a blanket over you that you could move around in. Would work for sporting events, anything outdoors really, you could take it with you to the fourth of july fireworks.
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Your fancy uniform (the suit), you keep, as you have to buy it anyway, after your first year. But combats and such are all returned.

When I was in the Signal Regiment, we had a Sergeant retire. He had been issued a watch, as he did not own one. When he retired, he had to even give the watch back! We used to say that the Army was the only place you drove with your lights on in the daytime, off at night, and they took your watch away when you retire!
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The only thing you keep are your uniforms, and anything that touches your feet or genital areas. Everything else is turned back in to be re-used by the next guy.
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US Army Scout

Not everything is given back to Uncle Sam, but anything that can be re-used most certainly is. Almost all TA-50 gear goes back for the next guy after you. This includes things like, your Kevlar (helmet), rain gear, canteens, ruck sack, etc. Generally speaking, items that touch the skin directly are kept by the service member, things like uniforms, including your dress uniform.
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No.

You pay for certain things. Like your uniforms. Those you keep.

Other things like gas masks, guns, helmets, are reusable. So you are issued those items and when you leave each base, or retire, you have to turn it back in and the next person gets issued the same thing.

Make sense? There is no sense in having to order a size 9 helmet, give it to one person, he leaves the base, and then your supply section is short on them and have to buy new ones.
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More money, in small denominations. Firearm and extra ammo.
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http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=280641004057&ssPageName=STRK:MESE:IT
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I would add those into the bag and take out the Kabar.

The first one is a Fixed blade Stainless steel Knife (Paracord wrapped handle) that comes with a Fire Starter and has a saw back to it. This one item solves 4 things. 1st it acts as a knife, duh, 2nd it has a paracord wrapped handle, the knife can be used just fine without it. although it may only be about foot or two or rope, it acts as emergency rope for tying down shelter or gear to your pack, or to tie up a splint in the case of injury. 3rd it comes with a firesteel fire starter which means no need for matches or a lighter because the spark burns at over 7000 degrees. and 4th it eliminates the need of a saw. Obviously its slower then a hand saw and you wont be cutting down any trees but for cutting off small branches that can’t be broke with your hand it works perfect.

The Second Item is Potable Aqua Iodine Water Treatment. Its very small and compact so it takes up nearly no room at all. However it allows you to use water from nearly every source you could find in the wood eliminating the need to carry any larger of a water container then a basic water bottle.

And the last is a flashlight, however, this flashlight is unique, it is extremely bright and is about the size of a quarter in length which means again it is very light and compact and barely takes any space.
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You have a pretty good start to that kit. There are some things I’d do differently, but mostly it’s a matter of preference.

A couple of areas you might want to beef up are your first aid kit (currently only good for superficial injuries that would have no/little impact on survival), water purification (boiling is slow and inefficient), and navigation (no maps or compass). The Ka-Bar knife and shemagh would not go in my pack; too heavy and not useful enough. Add some complex carbs and protein to your food supply. Put the small gear in a zip-lock bag or a small pouch for organization, and fill your water bottle with water.

If you’re out hunting then you obviously need a rifle or shotgun, or at least a bow. Otherwise, unless you might reasonably be out lost for more than a week, there’s little benefit to that weight and bulk. For long-term survival a lightweight .22 rifle is hard to beat, particularly the Uncle Henry AR-7.

Don’t get discouraged by the haters. Sure, people can and have gone off in the wilderness with nothing more than the clothes on their back, a tube of vegemite and a sheet of plastic for shelter, and survived for months. This behavior is totally ego-driven, self-centered and inconsiderate of others. They go forth on the assumption that they are some kind of superhuman, immune to all obstacles and dangers and incapable of being injured. Their entire plan relies on everything going reasonably well, and maybe 95% of the time it will. For that other 5% they are completely unprepared, forced to rely on others for their survival, sometimes fellow hikers/backpackers, and sometimes formal search and rescue. If you’re not reasonably prepared for emegencies, the difference between pride of completing a thru-hike with only a bag of jerky and a tarp, and the embarrassment of being hauled-off in a gurney (or a body bag) can come down to a single missed step, sip of bad water, bit of tainted food, insect bite or missed turn.
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It’s AMAZING I found it at http://yourselect.info/75078/cutting-tools
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http://yourselect.info/75078/cutting-tools

Still missing some of the most important items:
- Compass and map
- Shelter (tent, bivy sack, or at least a tarp)
- Water filtration/purification system
- Stove
- More food (high energy items)

I would lose:
- KaBar USMC utility knife
- saw
- can/bottle opener
- scissors
- file
- cork screw
- Pocket wire saw
- all but 25-50 ft of the cord

You only need a single well-chosen multi-tool to cover a lot of these items at a fraction of the size/weight.

EDIT: My mistake, I saw the Victorinox, but I thought all those things you listed were separate tools you were bringing, not elements of the multitool.
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