What is a good editing software that won't break the bank? Windows Movie Maker on Windows 7 is horrible.(the WMM Vista version was so much better)
Does anyone know how to cut footage from the video?(Movie Maker 7) I don't need 5 minutes of video of hogs coming in,lol.

Lightworks is a free one, has been used to do some pretty impressive stuff. Not sure if you have used any big editing software before but it might be worth a look at.

Pinnacle plus is pretty good
The price is under $100 and all around its pretty easy to use.

Adobe premiere elements is a good one for pretty cheap, but fully functional to cut, edit export, etc.

I bought Cyber Director 12 Ultra. Works pretty good, not hard to use.  It's the first video editing package I've ever used.  Cost me about $50-$60 if I remember.

Here's a little something I put together with it.  Don't be too critical... I'm still learning.

https://www.youtube.com/watch?v=ty0e48uFcUY

What about you folks who edit on Mac's?  What would you recommend for editing video footage.  I've used iMovie a little but it's far from easy in my limited experience.  It would be really nice to have something that's intuitive and easy to use on a Mac.

Thanks in advance for any advice and input.

Watch a tutorial on I-movie it will help quite a bit. Or if you want to get all professional buy, Final Cut Pro X from the app store....

http://www.pcmag.com/category2/0,2806,4835,00.asp

I've edited in Final Cut Pro X on a MacBook for the last year and really like it.  It's seamless integration in post production offers a lot of flexibility with regard to output.  It's not cheap but if I added up all the "inexpensive" software I purchased leading up to buying FCP I would have saved a ton of money just buying FCP initially.  Search YouTube for tutorials on FCP.  The add on's/plugin's can really create stunning video.