Why is my Xbox automatically Red Ringing?

After I plug my Xbox into the power cord the light on the power box stays orange, no matter what I do. If I try to turn the xbox on I immediately get the overheat red ring even though everything has been sitting in my apartment unplugged and my apartment is 68 degrees day round. It doesn't even go through the start up process it just red rings and sits there until I unplug it again.

I have already redone the heat sinks and tried every outlet in my apartment. Am I just dealing with a faulty power cord or am I missing something.