Bring a large pot of generously salted water to a vigorous boil over high heat. Add pasta, stir occasionally to prevent sticking, and cook according to package directions until al dente, about 8–10 minutes. Drain and set aside.

In a large skillet, cook bacon over medium heat until crispy and golden brown, about 5–7 minutes. Transfer bacon to a paper towel-lined plate to drain, and crumble when cool.

Reserve about 1 tablespoon of bacon grease in the skillet. Add ground beef, cook for about 5 minutes until browned, then add onion and garlic, cooking until onion is translucent and fragrant, about 3–4 minutes.

Stir in heavy cream, beef broth, ketchup, and mustard into the beef mixture. Bring to a gentle simmer over medium heat, stirring occasionally until thickened, about 3–5 minutes.

Add the cooked pasta to the skillet with the sauce and toss to coat. Gradually mix in both cheeses, stirring until melted and sauce coats the pasta evenly.

Fold in crumbled bacon, reserving some for garnish. Season with salt and pepper to taste and mix until well combined.

Serve hot in bowls, garnished with remaining bacon if desired, and enjoy with a green salad or garlic bread.