Heat olive oil in a large stockpot or Dutch oven over medium high heat.
Add ground beef and cook until beef has browned, about 3 – 5 minutes, making sure to crumble the beef as it cooks; stir in taco seasoning.
Drain excess fat.
Stir in Rotel tomatoes, tomato paste, spaghetti and 3 cups water.
Bring to a boil; cover, reduce heat and simmer until pasta is cooked through, about 13 – 16 minutes.
Remove from heat and top with cheeses.
Cover until melted, about 2 minutes.
Serve immediately, garnished with tomato and cilantro, if desired.
