Preheat oven to 450°F. Coat baking sheet with cooking spray. Cook spaghetti according to package directions, omitting salt and fat. Drain; keep warm.
Combine beef, sausage, egg white, bread crumbs, and oregano in medium bowl; mix well. Shape mixture into 16 (1 1/2-inch) meatballs. Place on prepared baking sheet; coat with cooking spray. Bake 12 minutes, turning once.
Pour pasta sauce into large skillet; add meatballs. Cook and stir over medium heat 9 minutes or until sauce is heated through and meatballs are cooked through (160°F). Divide among four plates. Top with meatballs and sauce; sprinkle with basil and Parmesan cheese.
Calories: 388 calories, Carbohydrates: 41 g, Protein: 34 g, Fat: 10 g, Saturated Fat: 3 g, Cholesterol: 69 mg, Sodium: 760 mg, Fiber: 5 g
Exchanges per serving: 2 Bread/Starch, 2 Vegetable, 3 Meat.
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