Issues with monitoring when recording (by 2 users)

Ok, so I hope I can convey the issue the right way...

When I try to use this device and I had the same issue with the fast track pro,
when i monitor myself it just isnt loud enough ( the source coming from the computer is loud enough, its the mix and the mic that are the major issue) and the the mix knob is rendered useless... The mix knob when i turn it all the way to the input source, i should only be able to hear the mic and when i turn it all the way to the computer source, i should only hear whats coming out of the computer... this feature is basically useless, to be able to monitor myself I have to turn the knob all the way to the computer source and my vocals are just over powered.. Also i feel as if the mic isnt being fully powered, the sound that essentially recorded is flat and i get the over all sense that something is missing... Its as if there is a driver issue, or the amps on the mic and headphones are too weak...Since this is the same problems I had with the fast track pro, it leaves me puzzled. although i installed them correctly as well as the latest version of the drivers. Ive got at the very least the sufficient requirements to run the machine... I tried installing on a band new macbook with lep, same deal...

Im not new to recording. i know what to expect out of monitoring and dubbing and how it should sound in the headphones and something is definitely off here...

Its as if its not giving the mic ample power, but then again if i raise the gain of the mic i just get of course a distorted recording

some one please help! i just wanna be able to record lol =/