1. In small bowl combine cereal and water. Let stand until needed. In medium bowl stir together flour, cinnamon, baking soda, baking powder, ginger, salt and cloves. Set aside.
2. In large mixing bowl combine molasses, butter and sugar. Beat on medium speed of electric mixer until combined. Increase speed to high. Beat until mixture is smooth. Alternately add flour mixture and cereal mixture to beaten mixture, beating on low speed until just combined after each addition. Wrap in plastic wrap. Refrigerate for 1 hour.
3. On lightly floured surface roll dough, half at a time, to 1/4-inch thickness. Cut with floured 4-to 5-inch cookie cutter. Place on greased baking sheet. Decorate dough with raisins, if desired. Bake at 400° F oven about 10 minutes or until cookie springs back when lightly touched. Immediately transfer to wire rack. Cool completely. Decorate with frosting, if desired.