I have been using Audacity for many months and it has worked like a charm.
I have not made any changes in my setup and hardware.
And now, today, it just stops taking in signals form the mic.
I can hear the mic, it works on skype and other applications, and it is selected as the source for input correctly (yes I have read the manual prior to posting.

). However, the wave is completely flat. It is not muted, and I can still hear it over the headset, it just won't pick the signal up and record it. I have changed to all other possible input settings in audacity and it does not make one lick of difference.
What am I missing here?