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Combine rice, water, salt, and butter in a pan.
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Cover and simmer for 15 minutes.
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At the same time, heat the milk to scalding.
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Stir hot milk into rice, add raisins if using, cover, and simmer 15 more minutes.
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Beat eggs and sugar together.
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Add some of the hot mixture to them, stirring constantly.
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Return egg mixture to rice mixture and cook 5 minutes, stirring constantly.
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It should start to bubble.
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Pour into a bowl.
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Add the vanilla.
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Cool.