Bacon Gravy on Toast

This is a good tasting gravy
good on toast and scrambled eggs.

Ingredients
6 bacon strips, diced
5 tablespoons all-purpose flour
1 1/2 cups water
12 ounces milk
salt and pepper to taste
4 slices bread, toasted

Directions:
In a skillet, cook bacon over medium heat
until crisp; remove to paper towels.
Stir flour into the drippings until blended;
cook over medium heat until browned,
stirring constantly.
Gradually add water and milk.
Bring to a boil; cook and stir
for 2 minutes or until thickened.
Add bacon, salt and pepper.
Serve over toast.