Cook pasta in salted water according to package instructions, then drain and rinse.
While pasta is cooking, cook ground beef in a large skillet over medium heat until meat is browned. Remove beef from skillet and set aside.
Add olive oil, butter and minced garlic to skillet and let cook for 1 minute, then add onion and carrots and cook until onion looks slightly translucent, about 3-5 minutes.
Add canned diced tomatoes, (include contents of the whole can,) along with tomato paste, beef broth, Italian seasoning, oregano, onion powder, bay leaf, salt and pepper. Bring to a simmer and cook for about ten minutes over medium heat.
Add ground beef to skillet and stir to combine, followed by pasta. Thoroughly combine pasta with sauce and cook for another 1-2 minutes.
Serve immediately with freshly grated parmesan and basil leaves.