Ragelach

In a large bowl, beat butter and cream cheese with mixer on med. speed until smooth. On low speed, gradually add flour, beating just until dough comes together, 10-15 sec. Divide in thirds. Flatten each into a 6" disk. wrap and refrigerate until firm enough to roll out, at least 1 hour or up to 1 week.(Or wrap airtight and freeze up tp 2 mos. Refrigerate until soft enough to roll.) Preheat oven to 350 degrees. Line a cookie sheet(s) with parchment or waxed paper for easy cleanup, if desired. Working quickly, generously sprinkle work surface and top of 1 disk of dough (keep others refrigerated) with flour. With a rolling pin, roll into a 14" circle. Remove and reserve 2 Tbsp cinnamon sugar. Spread circle with 1/4 cup jam or preserves, leaving a 1/4" border, then sprinkle with 1/3 of the remaining cinnamon sugar, and 1/3 of the raisins and nuts. With a pizza cutter or knife, cut circle into 16 wedges. Roll up from wide end to point; tuck point under. Sprinkle each with 1/8 tsp. reserved cinnamon sugar. Repeat with remaining dough and filling. Place 2" apart on prepared cookie sheet(s). Bake 18-22 min., until bottoms are light brown and tops golden. Remove to a wire rack to cool. Storage tip: Store airtight at cool room temperature 1 week or freeze up to 3 months. Yield: 48