Combine first nine ingredients in a large pot and bring to a boil
Reduce heat and simmer for 15 minutes or until all potatoes are tender
Stir in ground beef and 2 cups milk and heat through
Combine flour with remaining ½ cup milk to make a smooth mixture
Stir flour mixture into soup
Bring to a boil and cook for 2 minutes until thick and bubbly
Reduce heat and stir in cheese until melted
Add cayenne pepper to taste
Top with crumbled bacon before serving