In addition to Vinny's post in the Product Review section: link here
Deli cup liners
I went shopping today at Micheal's craft store. They a similiar cutter as shown in Vinny's post, and it cost about $38.... a little pricey for me. So I looked around the store to see if they had anything else, and in the scrapbooking tools section I found a "circle cutter" for $25. So I picked one up

Seems to work pretty well, I can cut 8 layers of newspaper.... I'm sure that will decrease as the blade dulls, but you can buy replacement blades for it.
I get 40-50% off coupons in the London Free Press, so it cost me $15. Here's a pic....