Now I think it's fair to say that I got through more powdered sugar and cream cheese than the average person does, and it's due in part to the following recipe that I seem to make on an ever too frequent basis. It's my fail proof and default frosting. Not only does it taste delicious, but in my opinion if you add a little cream cheese frosting to the everyday dessert you've dressed it up to fancy! So without further a-due:
Cream Cheese Frosting
1 8 oz package cream cheese softened (I use 1/3rd less fat, but any kind should do the trick)
1/4cup butter softened
3.5-4cups powdered sugar (go with 4 if you want it stiffer)
Pour powdered sugar into mixing bowl and whisk a few times to get out any big clumps. Add butter, cream cheese and vanilla; beat on medium speed until you get frosting! *start with the mixer on slow so you don't get a powdered sugar cloud coming out of the bowl; it also helps to cover with a towel until ingredients are combined.
I can't take total claim for this recipe as I got it from my mother, but I do make my own variations . . . can't give away all my secrets!