2 eggs
3/4 c. sugar
2 tbsp. oil
3/4 c. buttermilk
3 3/4 c. flour
2 tsp. baking powder
1 tsp. baking soda
1/4 tsp. cinnamon
1/4 tsp. nutmeg

Beat eggs, add sugar, mix in oil and buttermilk. Sift together dry ingredients and add to egg-buttermilk mixture. Chill.

Preheat frying pan or heavy skillet with 1 1/2 to 2 inches oil. Roll out dough 1/3 inch thick and cut out doughnuts. Cook doughnuts a few at a time until brown on both sides. Drain on paper towels and sprinkle with powdered sugar or cinnamon sugar (1 cup sugar with 1 teaspoon cinnamon) while warm.