1 1/2 cups water
2 cups cubed, peeled potatoes
2 small carrots, grated
1 small onion, chopped
1/4 cup chopped green pepper
1 jalapeno pepper, seeded and chopped
1 teaspoon minced garlic
1 tablespoon chicken bouillon granules
1/2 teaspoon salt
1 pound ground beef, cooked and drained
2 1/2 cups milk
3 tablespoons all-purpose flour
8 ounces Velveeta cheese
1/4 teaspoon cayenne pepper
1/2 pound bacon, cooked and crumbled

In a large saucepan, combine the first nine ingredients; bring to a boil. Reduce heat; cover and simmer for 15 minutes or until potatoes are tender. Stir in beef and 2 cups milk, heat through. Combine flour and remaining milk until smooth; gradually stir into soup. Bring to a boil; cook and stir for 2 minutes or until thickened and bubbly. Reduce heat. Stir in cheese until melted. Add cayenne pepper. Top with bacon before serving.