Hot Dog Chili

1 16-oz pkg hot dogs, sliced
1 (15-oz) can whole kernel corn, drained
1 (6-oz) can tomato paste
1 Tbsp chili powder
1 tsp cayenne pepper (I used ¼ tsp)
1 Tbsp onion powder
1 tsp salt
1 pinch ground black pepper
2 cups water
1 cup shredded processed American cheese

In large saucepan combine hot dog slices, tomato paste, chili powder, cayenne, onion powder, salt, pepper, water, and cheese. Cook over medium heat until hot dogs plump and cheese is melted.