Preheat the oven to 350°F. Spray a 13x9 inch baking dish with nonstick spray and set aside.
Brush melted butter on one side of the French bread slices, and place the bread, buttered-sides-up, on a baking sheet. Bake the bread at 350° for 10 minutes or until lightly toasted. (Leave the oven on.) Cut the bread into cubes and set aside.
In a small bowl, combine the raisins and whiskey; cover and let stand for 10 minutes or until soft; do not drain.
In a large bowl, whisk together milk (or cream), sugar, vanilla, evaporated milk, and eggs. Add the bread and raisin mixture, pressing gently to moisten; let stand for 15 minutes. Spoon the mixture into the prepared baking dish.
In a small bowl, combine the 2 tablespoons sugar and the cinnamon. Sprinkle evenly on top of the bread pudding. Bake for 35 minutes, or until set.
PREPARE THE SAUCE:
In a small saucepan over medium-high heat, combine the sugar and water; cook until the sugar dissolves, stirring constantly. Simmer on low and cook an additional 15 minutes or until golden. The mixture should be bubbling (do not stir). Remove from heat.
Carefully add the butter and cream cheese, stirring constantly with a whisk (the mixture will be hot and will bubble vigorously). Cool slightly, and stir in the whiskey and milk (or cream).
Serve individual slices with warm sauce drizzled on top.
Notes
If you prefer not to use whiskey, substitute apple juice for whiskey in the pudding. In the sauce, substitute 1 tablespoon imitation rum extract and 3 tablespoons water for the whiskey.