You really sound like you are suffering from the extra weight that you are carrying. It is very common that once a person reaches a certain weight, it is difficult to breath. The extra weight actually compresses the ability of the lungs to expand, and thus you are not able to draw a deep enough breath for your oxygen needs. Using bronchodilators to open up the airways can help but is only a short term solution.
Loosing weight is the preferable option. I would encourage you not to exercise at this point, other than to walk as you are able.
You say you are not eating that much. Remember, it does not really matter HOW much food you eat but WHAT you are eating. You may be particularly sensitive to the damaging (fattening) effects of refined flour and sugar - basically refined carbohydrates that are found in cakes, muffins, bagels, breads, pasta.
There is a very good chance that you will loose the weight you need to lose just by stopping those foods and sticking with the protein and moderate fat diets. You can find information on these diets by looking at the paelo diets on line. See http://www.dietdoctor.com/lchf. This is a good way to eat that is healthy and you should be able to maintain your weight loss over the long term.
I also recommend that you check with your doctor to make sure that no other health conditions are contributing to your increased weight. There are a variety of conditions (hypothyroidism) that should be ruled out first.
If you find it difficult to stay on such a diet, you may be a food addict. Please see my website: addictionsunplugged.com for more information and support on this issue.
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