For sauce, heat oil in a large saucepan. Saute garlic and onion; add tomato juice, chili powder and salt. Simmer 10 minutes. In a bowl, mix first eight meatball ingredients. Shape into 3/4-in. meatballs. Heat oil in a skillet and brown meatballs on all sides. Add meatballs to sauce. Cover and simmer 10 minutes or until the meatballs are cooked through. Serve over spaghetti.