You've got to buy in bulk to see a significant savings. Buying 100 bullets, 1000 primers and a pound of powder is great for load development but not for budgets. Find what works, then buy a LOT OF IT.
Here's a recipe for around $150/thousand, and it all comes from one vendor, Widener's:
Widener's has Ramshot TAC or X-Terminator for $118/8# jug (temp out right now though).
http://www.wideners.com/itemview.cfm?startrow=13&dir=278|283|473
Widener's has Wolf primers on sale for $18 per thousand;
http://www.wideners.com/itemview.cfm?dir=278|284|737
Haz-mat, shipping & insurance on a maxed-out shipment has been about $54 total ($22.50 for haz-mat fees and the rest for shipping & insurance, but it is usually a couple dollars less); figure 30K primers and 2-8# jugs of powder. Add $1 to each brick of primers to get a total cost of $19 each, then split the remaining $24 in half for each jug of powder, total cost per jug becomes $130 approximately, or 5.8 cents per shot for powder.
I buy and sell bulk brass so it really costs me zero for brass.
Widener's:
http://www.wideners.com/itemview.cfm?dir=278|281|727
(5000) mil-spec 55-gr fmjbt-w/cannelure bullets, for $380 shipped, that's 7.6 cents each.
25 gr of Ramshot is about 5.8 cents.
Wolf Small rifle primer is 1.9 cents.
7.6 cents per bullet.
Total= $153 per thousand.
And it all comes from Widener's in one shipment and one credit card bill.
Plus you get handloaded ammo that you can adjust the powder slightly for max accuracy.
Even the cheapest Tula .223 ammo I can buy is going to be $197 per thousand and that's dirty, steel-core blasting ammo loaded in bulk.
There's ways to reduce this further, using pulled military bullets or surplus powder, maybe you find somebody at a gun show with a deal. You could get under $140 a thousand with some careful shopping around.