In A Large Saucepan, Cook The Beef And Onion Over Medium Heat Until Meat Is No Longer Pink; Drain. Stir In The Ketchup, Water, Worcestershire Sauce, Chili Powder, Pepper And Cayenne. Bring To A Boil. Reduce Heat; Simmer, Uncovered, For 5 Minutes Or Until Mixture Reaches Desired Thickness. Place Hot Dogs In Buns; Top Each With About 2 Tablespoons Beef Mixture.