10 bacon strips, diced 1 large onion, chopped 1 cup diced carrots 3 tablespoons all-purpose flour 3 cups milk 1-1/2 cups water 2-1/2 cups cubed potatoes 1 can (15-1/4 ounces) whole kernel corn, drained 2 teaspoons chicken bouillon granules Pepper to taste 3 cups (12 ounces) shredded cheddar cheese 2 cups cubed fully cooked ham

In a Dutch oven, cook the bacon over medium heat until crisp. Using a slotted spoon, remove to paper towels to drain. In the drippings, saute onion and carrots until tender. Stir in flour until blended. Gradually add milk and water. Bring to a boil; cook and stir for 2 minutes or until thickened.
Add the potatoes, corn, bouillon and pepper. Reduce heat; simmer, uncovered, for 20 minutes or until potatoes are tender. Add cheese and ham; heat until cheese is melted. Stir in bacon