Started working out last week and lowering calories but not losing weight

You are on the right path so focus on losing a little at a time (you gained a little at a time right??.
Lots of good community members can help you along the way.
I lost about 2 lbs a week for three months. I ate pretty much to the suggested number that MFP recommended so be strict with the eating part of your new lifestyle and it will work out for you.
Exercising will definitely not hurt.
Good luck

I'm a bit confused because your title says not losing weight, but your post sounds like you are saying you lose 2 lbs a week as long as you eat 300 calories less than MFP suggests to you?

1. Drink a lot of water, get enough sleep.
2. Seconding to buy a food scale. It makes the tracking a lot more accurate.
3. Ensure you're not forgetting anything. (Condiments, added sugar/milk/cream in coffee, oil used when cooking, candies or sugary gum, are common/easy ones to forget.)
4. Find ways to increase your lifestyle activity. Meaning workouts are fantastic, but also, walk more, take the stairs, practice an exercise move you like while waiting for the toaster, have a short solo dance party, add a little morning or evening gentle yoga, etc. Get creative and find stuff that's fun and "you".
5. Sometimes plateaus happen because we are making gains in our workouts. So take photos, take measurements, etc. Feel your body. Pay attention when you do things, to how it feels and how you perform. Look at your skin. And when you see any progress on any of these fronts, really take the time to appreciate that and be proud and congratulate yourself. (aka don't define your whole view of yourself and your progress by the scale)
6. Remember that you would not be happy with how you look if you lost weight rapidly. Your skin would not take it well, and so you'd not have the body you're envisioning.
7. Find a lot of things to look forward to, and do some nice things for yourself. Change your hair, buy workout clothes that make you happy, get yourself a fancy water bottle, plan a trip to something (I recently went to the aquarium), set new (reachable) fitness goals (then celebrate when you hit them), whatever. Keep busy, keep positive, treat yourself well, add more awesome to your life. It'll help you not get down when things don't seem to be moving at the pace you'd like.

Great of you to make the decision to lose weight.

Remember, that in order to lose a pound, you need to burn about 3500 calories more than you consume...so to lose 2 pounds per week, you need to have a net deficit (after workouts) of about 1,000 per day, every day.

I put in a weight loss of 1.5 pounds per week, plus my sedentary life style...that way I feel even better when I consume less than MFP suggests.

Patience, Grasshopper.
You didn't gain the weight quickly, you're not going to lose it quickly.
Also remember that weight loss is not linear.
Here's a newbie help post, with links to helpful info such as sexypants, realistic goal setting (weight, calories, macros), motivation/encouragement ...

If your 75 lb loss would put you at a healthy weight, it would be reasonable to lose up to 2 lb per week at first. That takes being 1000 calories under your maintenance level for that weight. Adjust as needed as you're losing.
When you get closer to goal, the loss will slow, and in the last 20 lb or so dropping 0.5 lb per week will be a victory. (And you should be eating closer to your goal calories too.)

As long as you are eating less than what your body needs for maintaining your current weight, you will lose weight.