knee and foot pain

Question
I have two different problems that are combining to make one big problem.  I am 41, overweight by app. 40 lbs and I am walking/jogging to finish getting the weight off (I have lost 30 lbs. so far).  Problem #1, my knees are shot.  They "crunch" when I squat down or go up stairs and have just a dull ache to them constantly.  They just grind and hurt.  Problem #2, my left foot on the outside, opposite of the arch, gets red,swells and hurts and it looks as though a little bone in the center of the outside pokes out where on the other foot it doesn't look this way.  So, when I walk or jog, I tend to put more pressure on the right leg and knee to counteract the pain in my foot.  So, my question is, would a knee brace or sports tape or something help with this?  I want to continue to exercise and I love to walk and run but I hurt so bad at the end of the day I sometimes have trouble resting at night.  I hope I have explained this well enough and I really appreciate your time and help.  Thank you!

Answer
You need some new shoes. Head into a running store and explain the pain, your shoes are the first issue, then a good associate will be able to offer you insight into any other issues. This ties all into your foot strike, gait, all the above. If you are able to protect your feet better, your knees won't hurt as much at the end of the day.