Stereo Mix voice feedback

I am using the Stereo Mix option to broadcast sound(music & voice) from my PC on the ustream website. The music part works perfectly but I am also using a microphone to broadcast my voice over the music. The problem is that after clicking on "listen to" for the mic, I hear my voice played back through my headphones with maybe a 1 second delay. Is it possible to stop this as I dont want to hear myself like an echo in my headset. I just want to be able to broadcast my voice to listeners.

Thanks for any help.

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