unfortunately you have to spend good money for a jacket that is both waterproof and breathable. REI has a fantastic e-vent jacket that I use year-round. At half the price of the comparable showers pass jacket, it's still not cheap. That being said, you can sign up for REI gear mail (using any old email address) and get a 15% off coupon for it. With outerwear, there comes a familiar axiom: breathable, waterproof, cheap--pick any two.

as far as tights go, keep an eye over at nashbar. They are having weekly specials on winter clothing. I picked up a pair of padded thermal bib-tights this year for $19 (which is unheard of). I have seen unpadded non-bib tights pop up regularly for under $25 there.