Bass Pro Microlite's are nice and only $39.99. (Wait a few weeks and they'll be on sale for $29.99.)
Bass Pro also has several inexpensive UL combos. The rods are usually 4'6" or 5', though.
Also:
Cabela's Pro Guide for $39.99
Cabela's Fish Eagle II on sale for $49.88 ($30 off the regular price)
For the reel, it's hard to go wrong with a Shimano or Daiwa.