Heat a Dutch oven over medium-low, and add oil and onion; season lightly with salt and pepper. Cook until the onions turn light beige in color and begin to caramelize, 20 minutes.
1/4 cup Olive oil, 1 ea Onion, diced
Add garlic and cook until fragrant and starting to brown, about 2 minutes.
3 cloves Garlic, minced
Increase heat to medium-high and add bacon and ground beef, using the back of a large spoon to break up the meat into smaller pieces. Continue to cook until the liquid has mostly evaporated and the meat starts to sear and develop a crust on the bottom of the pan, 12 minutes.
5 strips Uncooked bacon, diced, 1 lb Ground beef
Remove pan from the heat and carefully drain off most of the fat, leaving a little in the pan to keep the meat moist.
Return pan to medium-high heat and add white wine, allowing it to reduce until the mixture is almost dry, about 10 minutes.
1 cup Dry white wine
Add the chicken stock, heavy cream, hot sauce, paprika and bay leaf to the pan. Mix until combined and bring to a boil.
3 cups Chicken stock, 3/4 cup Heavy cream, 1/3 cup Hot sauce, 2 tsp Paprika, 1 ea Bay leaf
Add the pasta and cook until al dente, stirring often, about 9 minutes.
8 oz Elbow pasta
Reduce the heat to low and stir in both types of cheese, stirring until completely melted and sauce is thickened.
1/2 cup Parmesan cheese, 1-1/2 cups Grated cheddar cheese
Remove the pan from heat, stir in chives and season to taste with salt and pepper. Serve immediately.
1/2 cup Chives, chopped