Cook ground beef in a dutch oven or large pan over medium high heat. Break up the ground beef as it cooks to brown on all sides. Remove from pan and set aside.

Slice the bacon into 1 inch strips and cook in the pan until crispy. Remove to a paper towel lined plate.

Add diced onions and bell peppers to the pan, cooking in the bacon grease until softened.

Add the browned ground beef and the bacon to the vegetables.

Stir in beer, V8 Juice, chili seasoning, shredded carrots and diced tomatoes.

Lower to simmer and cook 1 hour, stirring occasionally until thickened.

Cut Velveeta into chunks and place in a pan with Rotel tomatoes, cream, garlic and cumin.

Cook over low heat, stirring until melted and smooth.

Spoon chili and cheese into bowls and top with desired toppings like fresh salsa, cilantro, diced avocado and sour cream. Serve with tortilla chips.