My Two Cents
As a Notre Dame alum, I am an expert on cheap, nasty tasting beer.
Buckhorn would have to be at the top of the list. So would something called "Hi-Brau" (which tasted like rotten potato peels). The 1970s formula for Old Milwaukee was pretty nasty also.
There was a California based beer called Brew 102 which was right down there in the sewer with Buckhorn and Hi-Brau.
On the good tasting side, Falstaff was OK (ND's late and lamented Senior Bar served it for a quarter a draft).
When I moved to Washington in 1976, a liquor store on Connecticut Avenue near my apartment sold something called Old German by the case of 24 - 12 oz. stubby bottles for $2.99 (bus fare in DC was 30 cents per ride back then, to put perspective on the price). Old German was put out by Yuengling's, which is a quality outfit--they have since sold the brand to the brewers of Iron City, and are concentrating on quality popularly priced brews like Traditional Lager and Black & Tan.
My favorite cheap beer today is Genesee Cream Ale, which you can find around for as low as $10.99 per 30 pack.