Melt processed cheese in a slow cooker set for high heat. Stir occasionally to avoid burning. Place ground beef in a large skillet. Cook over medium high heat until evenly brown. Drain beef, and mix in water and taco seasoning mix. Cook and stir 2 to 4 minutes. Stir seasoned beef into the melted processed cheese. Mix in salsa. Cook and stir until well blended. Serve warm.