In a large skillet over medium-high heat brown the meat, breaking it up with a spoon, until all traces of pink are gone, about 8 to 10 minutes. Drain in a colander and discard fat. Return the beef to the pan.
In a small bowl combine the chili powder, cumin, oregano, garlic powder, and salt.
Place the skillet over medium heat. Add the spice mixture and stir to coat the meat. Add the water and simmer for 1 minute, stirring a few times.