"Cheap" is often in the eye of the purchaser. I can't fault any suggestions in this thread, but here are some "even cheaper" ideas:
If you're looking for real cheap, you could buy some handmade mixed filler bundle cigars. Riata is a pretty consistent cigar in this category. As with any mixed filler, you have to watch out for burn problems.
Or you could go for Consuegra, which are seconds of Punch, Hoyo de Monterry, ERDM, JR Ultimates, Excalibur, and a few other popular brands. I've found the ratio of good cigars to bad ones is 60%/40%. But, hey, for under a buck...
On CigarBid, you can usually get a box of Legends Series cigars for $30.
& finally, I recommend JR Cuban Alternatives. A lot of people complain about burn problems with these sticks, but I don't usually have problems with them. In particular, the Alt to Excalibur Prensada and the Limitada Edicion Alt to Montocristo Edmundo are pretty serious smokes.