– Combine sugar and water in a small heavy saucepan and cook over medium-high heat until sugar dissolves, stirring constantly.

– Continue to cook without stirring until golden (about 15 minutes).

– Remove from heat and carefully add butter and cream cheese, stirring constantly with a whisk. It will be very hot and will bubble vigorously.

– Cool slightly before stirring in whiskey and cream (or milk). Drizzle over warm bread pudding and serve.