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

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 toothpick inserted in the center comes out clean. Cool cake completely; frost with cream cheese frosting.

CREAM CHEESE FROSTING:

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

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.