In a bowl, cream butter and sugars.
Add milk, egg and orange juice; mix well.
Combine the flour, baking powder, salt and baking soda; add to the creamed mixture and mix well.
Stir in cranberries and nuts.
Drop by tablespoonfuls 2 in. apart onto greased baking sheets.
Bake at 350° until golden brown, 12-15 minutes.
Cool on wire racks.
For frosting, heat the butter in a saucepan over low heat until golden brown, about 5 minutes.
Cool for 2 minutes; transfer to a small bowl.
Add sugar and vanilla.
Beat in water, 1 tablespoon at a time, until frosting reaches desired consistency.
Frost the cookies.
