In a large soup pot, heat the olive oil at medium-high heat. Add the onion and green pepper, and stir for about 3-4 minutes until it begins to soften. Add the ground beef and ground Italian sausage. Season with salt and pepper. Stir continuously until meat is browned.

Add all the spices, diced tomatoes, and tomato paste, and stir together until thoroughly combined. Bring to a boil, reduce heat to low, cover and simmer for 40-45 minutes, stirring occasionally. Check seasoning and add more salt and pepper to your taste.

Top each bowl with half of a chopped avocado and serve.

Garnish with cheddar cheese, sour cream, green onions, cilantro, and jalapeños, if desired.