Cowboy Soup

Name: Cowboy Soup
Cook time: 35 min
Total time: 35 min
Cuisine: American
Ingredients: 1 pound lean ground beef; 1 (16 oz.) package velveeta, cubed; 1 cup sharp cheddar cheese, grated; 1 yellow onion, finely chopped; 4 small potatoes, chopped; 1 red bell pepper, seeds removed, diced; 1 (13.25 oz.) can whole corn kernels, rinsed and drained; 1 (13.25 oz.) can black beans, rinsed and drained; 1 (4 oz.) can green chiles; 3 cups low-sodium chicken or beef broth; 2 1/2 cups whole milk; 1/4 cup all-purpose flour; 1/4 cup (1/2 stick) unsalted butter; 1 teaspoon garlic powder; 1 teaspoon cumin; 1/2 teaspoon cayenne, optional; bacon bits, optional; kosher salt and freshly ground pepper, to taste