1. Soak cereal in water set aside.
2. Stir together flour, baking powder, soda, salt and spices set aside.
3. In large mixing bowl beat together margarine, sugar and molasses. Stir in dry ingredients alternately with cereal, mixing after each addition. Chill 1 hour.
4. Roll dough directly onto greased baking sheet to 1/4-inch thickness. Cut with floured cookie cutter. Remove excess dough. Decorate cookies with raisins.
5. Bake in 400°F oven about 10 minutes or until lightly browned. Remove immediately from baking sheets. Cool on wire racks. Decorate with confectioners sugar icing, if desired.
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