Beat together:

3 eggs
1 lb. can pumpkin
3/4 c. vegetable oil
1/2 c. water

Add:

2 1/2 c. flour
2 1/4 c. sugar
1 1/2 tsp. baking soda
1 1/4 tsp. salt
3/4 tsp. nutmeg
3/4 tsp. cinnamon
1 c. raisins
1/2 c. chopped walnuts

Pour into buttered 9x13 pan. Bake at 350 for 1 hour 15 minutes or until toothpick inserted into cake comes out clean.

Frost with:

8 oz. cream cheese
6 tbsp. butter
2 tsp. lemon juice or vanilla
1 lb. box confectioners' sugar