Place the ground beef, sausage, peppers and onions in a large cast iron pot over medium-high heat. Cook, stirring to crumble, until evenly browned and vegetables are soft. Drain off grease. Add back to pot, add kidney beans, diced tomatoes, sauce & paste and the cup of water. Stir for a few minutes to combine. Stir in cumin, chili powder & salt & pepper to taste. Simmer over low heat for 40 minutes uncovered.