an American equivalent phrase...

Harlequin said:

The first instance where it occurs is when a MC is discussing the fact that she needs bullets and/or has other particular limitations in a fight but on the other hand, she's the only one with range/distance. So... swings and roundabouts.

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This puts me in mind of "Six of one, a half-dozen of the other."

In my little corner of the world, it always meant "something that evens out" and/or "a difference that makes no difference."

So, much like in your example, someone might be weighting the pros and cons of something, or comparing the pros and cons of two different things. When it comes out a wash--the pros even out the cons or both choices have equal good and bad points--it's "six of one, a half-dozen of the other."

"You want pepperoni or chicken on the pizza?"
"Eh, it's six of one and a half dozen of the other."

"If I wash my car today it'll probably rain, but if it does my garden will be brighter. I suppose it's six of one, a half dozen of the other."

That sort of thing. I suppose it really depends on how your character is actually phrasing things, as sometimes the idiom people choose is based in the lead up.

Roxxsmom said:

One US expression I've heard that might be similar is "Half a pound of one thing and half a pound of the other." It's used in situations when something good is paired with something bad, or when there's a trade off of some kind.

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katfireblade said:

This puts me in mind of "Six of one, a half-dozen of the other."

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Was literally about to reply to Roxxsmom saying she'd reminded me of that phrase

I think this may largely depend on what part of the country you're from. I've heard "six one, half dozen 'nother" in the southern mid-west (Texas/Oklahoma region), but "it's a wash", "it'll all come out in the wash", "one hand washes another" in the more northern parts of the mid-west (Nebraska/Iowa). So, may I ask what region your character is from?

Harlequin said:

When I lived in new jersey we called them something else entirely. I want to say jackhammer but that isn't right.

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I think in New Jersey they're usually called "traffic circles." You may be remembering "jug handles," which are a different thing: a way to eliminate left turns across busy streets by making all turns from the right lane only, curving into an ordinary crossing to get to the other side -- like a "P" or a, well, jug handle. They're very common on some big roads in NJ like Rt 22, very peculiar to newcomers, & they can be annoying if they're too widely spaced & make you backtrack too far, but they're basically a good solution to the left turn problem. (I guess in the UK it would be a right turn problem.)

I've never heard the "swings and roundabouts" phrase. I always called the playground ride a merry go round, but I don't remember them being in any of the NYC playgrounds I frequented as a child -- they were exotic equipment in exotic places (like NJ).