1 c. butter, softened
1/2 c. shortening
3 c. sugar
7 eggs
2 tsp. vanilla extract
1 (1 oz.) bottle red food coloring
3 c. cake flour
1/4 tsp. salt
1 c. milk
Cream Cheese Frosting

CREAM CHEESE FROSTING:

1/2 c. butter, softened
2 (3 oz.) pkgs. cream cheese, softened
1 tsp. vanilla extract
1 (1 lb.) pkg. powdered sugar, sifted
1 to 2 tbsp. milk

Combine butter, shortening and sugar; cream until light and fluffy. Add eggs, one at a time, beating well after each addition; stir in vanilla and food coloring.

Combine flour and salt; add to creamed mixture alternately with milk, beating well. Pour batter into a greased and floured 10 inch tube pan; bake at 325 degrees about 1 hour and 20 minutes, or until a toothpick inserted in center comes out clean. Cool cake completely; frost with Cream Cheese Frosting.

Cream Cheese Frosting: Combine butter and cream cheese; blend until smooth. Stir in vanilla, mixing well. Stir in powdered sugar. Beat frosting until creamy, adding enough milk to make frosting of spreading consistency.