Prepare the ingredients by slicing pork sausage into ½-inch pieces, and diced onions and bell peppers.
Add 1 teaspoon oil to a large skillet or soup pot over medium-high heat. Then add the onion, and cook for 3 minutes, stirring occasionally.
Add the ground beef, break the meat into smaller pieces, and add pork sausage to the pot. Cook for 6-7 minutes, until the meat is browned. Drain off any fat that accumulates.
In a large soup pot over medium-high heat, add 1 teaspoon oil and diced bell peppers, then cook for 2-3 minutes. Add the meat mixture to the pot.
Add garlic powder, salt, black pepper, cayenne pepper, chili powder, cumin, tomato paste, sugar and dried oregano. Stir until well combined.
Add the beef broth and stir well. Bring the mixture to a low boil.
Then reduce the heat to low (or medium-low) to simmer the chili, uncovered, for about 20 minutes. Stir occasionally.
Taste and add more salt and optional hot sauce if preferred.
Remove the pot from the heat. Let the chill rest for about 5 minutes. Serve with optional toppings and enjoy!