Cook pasta according to package directions and drain.
In a skillet, brown your beef and drain well, blotting with paper towels to pick up the extra grease. Meanwhile, in large saucepan over medium heat, heat oil; add onion and red pepper.
Cook 5 minutes, stirring occasionally, or until tender. Add cooked beef to onion/pepper mixture, mixing well.
Add remaining ingredients except cheese; heat to boiling. Reduce heat; cook, uncovered, stirring occasionally, 15 minutes.
Toss hot pasta and one-half sauce. Spoon remaining sauce over top; sprinkle with cheese.