Hi Pat, For the letter size paper you mention I use a inexpensive Fiskar Rotary trimmer that I bought at Costco.
You still have to pay attention to how you hold the attached cutter head and hold the paper securely or you can get the same corner cutting problem that you usually see on the knife style cutters, where the cutter "flares out" leaving a not-square corner. But if you are just a bit careful this rotary cutter does a fine job for me. The next step up for me was to buy a Logan "Team System" cutting rail with a 45º cutter attached. It's much longer than the Fiskars cutter (I have the 18" and I think there is also a longer version) and designed for cutting mat boards (hence the 45º cutter head). But I also use it (even with the 45º cutter) to cut my 13x19 inch paper into 12x16 and so forth. I had to learn to compensate for the 1/8 inch offset of the blade, but that was easy. And of course I now "save money" by buying the large mat board sheets and cutting my own single and double mats for framing, which allows me a much larger color selection than buying pre-cut mat boards. Hope this helps! - THaller