My Best Chili Sauce for Hot Dogs

I make this every year at least twice.
It's a very good tasting chili sauce,
to use on top of grilled hot dogs.

Ingredients:
2 pounds ground angus beef 85/15
1/2 pound bacon, cut into small pieces
1 large onion, peeled and chopped
4 garlic cloves, peeled and minced
16 ounces of tomato sauce
8 ounces beef broth
1 Tbsp molasses
1 Tbsp honey
2 Tbsp sweet smoked paprika
2 Tbsp allspice
1 teaspoon dried mustard
1 Tbsp ground cumin
1 Tbsp chili powder
1/2 teaspoon cayenne pepper
1/2 teaspoon black pepper
Salt to taste

Directions:
In a saute pan fry up the bacon
over medium heat to get crispy,
then add the chopped onions
and saute over high heat, stirring often,
until the onions begin to brown.
Add in the ground beef and stir in well.
Cook this, still over high heat
and stirring occasionally to break up,
until the beef is browned.
This will take a few minutes.
When the beef is about halfway browned,
toss in the chopped garlic and mix well.
Once the beef is well browned,
add tomato sauce, molasses and beef broth.
Add all the spices and stir to combine well.
Use an imersion blender to chop up the chili
to your desired consistancy, I like it fine.
Bring to a simmer and check seasonings.
Let the chili cook uncovered on a gentle
simmer for at least 45 minutes or so.