Bring a large pot of heavily salted water to a boil. Cook the thick spaghetti according to package directions until al dente. Drain and set aside.
While the water boils, place a large skillet or Dutch oven over medium high heat and add the olive oil.
Add the Italian sausage and ground beef. Use a wooden spoon to break the meat into small pieces. Cook until browned and no longer pink.
Stir in the diced onion, green bell pepper, and minced garlic. Sauté for 3 to 4 minutes until the vegetables begin to soften.
Add the tomato paste, granulated sugar, garlic powder, onion powder, oregano, basil, and cayenne pepper. Stir well to ensure the spices are toasted and the paste is incorporated.
Pour in the water and crushed tomatoes. Stir to deglaze the bottom of the pan, scraping up any brown bits.
Bring the sauce to a simmer, then reduce the heat to medium low. Let it simmer uncovered for 30 minutes to thicken and develop flavor.
Taste the sauce and add salt and pepper as needed.
Add the cooked spaghetti and Parmesan cheese directly into the sauce pot. Toss thoroughly with tongs until the pasta is well coated.
Serve hot with extra Parmesan cheese sprinkled on top.