As it happens one of my favorite beers in the world also falls under your category of cheap. Spaten Optimator is available locally (Athens, GA) for $10.99 per 12 pack. At 7.2% abv it's nearly twice the strength of most American macro lagers which means less recycling, less trips to the bathroom and it's so much better tasting. I think I'll have one right now.

A beer that packs one hell of a punch for not very much money is Steel Reserve. They make it in two strengths. The stronger one is over 7% and a 24 ounce can is available for under $1. Not necessarily recommended though but $2 worth and it's tomorrow before you know it.

For those die hard beer fans out there I recommend converting an old fridge into a keg cooler. I've had everything from St. Bernardus Abt 12 to Old Rasputin Imperial Stout in mine and the cost per serving is WAY below what the packaged beer runs, usually less than a Bud would cost.