Erma Bombeck's Christmas Dip

1/2 pound lean ground beef
1/2 cup finely chopped onion
1 (8 ounce) can tomato sauce
1 1/2 teaspoons chili powder
1/2 teaspoon salt
1 (8 ounce) can pork and beans, mashed
1/2 cup coarsely grated American cheese
1/4 cup chopped black olives

Using a nonstick skillet, cook beef and 1/4 cup onions for 5 minutes at medium high. Stir often until beef is lightly browned. Stir in sauce, chili powder and salt. Bring to simmer. Stir in beans and simmer 3 to 4 minutes. Turn into chafing dish. Sprinkle with cheese, olives and rest of onion.

Serve with taco chips.